http://www.the10b-5daily.com/ News and events related to securities class action litigation. Containing all facts, with particularity, and an occasional dose of commentary. en-us the10b5daily@hotmail.com 2010-02-04T22:19:57-05:00 hourly 1 2000-01-01T12:00+00:00 http://www.the10b-5daily.com/archives/001060.html Courts can be skeptical about statements from confidential witnesses. One way to express that skepticism is to wonder why, if the witness knows so much about what went on at the company, he or she is unable to provide details... 1060@http://www.the10b-5daily.com/ Appellate Monitor 2010-02-04T22:19:57-05:00 http://www.the10b-5daily.com/archives/001059.html The big news today is the plaintiffs' victory in the Vivendi trial. A few key points about the verdict have already emerged: (1) The jury agreed with the plaintiffs that Vivendi made 57 false or misleading statements concerning its financial... 1059@http://www.the10b-5daily.com/ All The News That's Fit To Blog 2010-01-29T18:19:17-05:00 http://www.the10b-5daily.com/archives/001058.html A couple of items related to the National Australia Bank case. The case is pending before the U.S. Supreme Court and concerns the extraterritorial application of the antifraud provisions of the federal securities laws. Oral argument has been scheduled for... 1058@http://www.the10b-5daily.com/ Appellate Monitor 2010-01-20T22:32:57-05:00 http://www.the10b-5daily.com/archives/001057.html A few items of interest from around the web. (1) CFO.com examines whether the new year will bring regulatory reforms that could reverse the recent drop in securities class action filings. (2) One entity that may have an effect on... 1057@http://www.the10b-5daily.com/ All The News That's Fit To Blog 2010-01-15T20:01:11-05:00 http://www.the10b-5daily.com/archives/001056.html There have been only seven securities class actions tried to a verdict where the conduct at issue took place after the passage of the PLSRA in 1995. Are we about to see one more added to the list? The American... 1056@http://www.the10b-5daily.com/ All The News That's Fit To Blog 2010-01-06T19:42:57-05:00 http://www.the10b-5daily.com/archives/001055.html Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse have released a report on federal securities class action filings in 2009. The findings include: (1) A total of 169 federal securities class actions were filed in 2009, a... 1055@http://www.the10b-5daily.com/ Lies, Damn Lies, And Statistics 2010-01-06T19:00:53-05:00 http://www.the10b-5daily.com/archives/001054.html There were two significant settlements this week. (1) Comverse Technology, Inc. (Pink Sheets: CMVT) has entered into a preliminary settlement of the securities class action pending against the company in the E.D. of New York. The case was originally filed... 1054@http://www.the10b-5daily.com/ Settlement 2009-12-18T22:35:44-05:00 http://www.the10b-5daily.com/archives/001053.html NERA Economic Consulting has released a study entitled Recent Trends In Shareholder Class Action Litigation: 2009 Year-End Update. The study reaches the following notable conclusions: (1) NERA predicts that there will be 235 filings by year end (down from 253... 1053@http://www.the10b-5daily.com/ Lies, Damn Lies, And Statistics 2009-12-15T18:38:33-05:00 http://www.the10b-5daily.com/archives/001052.html (1) Given that the PSLRA has been in effect since 1995, federal courts of appeals have been spending a surprising amount of time lately addressing writs of mandamus on how to interpret the statute's lead plaintiff provisions. Just last month,... 1052@http://www.the10b-5daily.com/ Appellate Monitor 2009-12-11T19:44:57-05:00 http://www.the10b-5daily.com/archives/001051.html When it comes to securities litigation, all of today's action was in the U.S. Supreme Court. First, the Court granted cert in the National Australia Bank case (over the objections of the DOJ and SEC) and will review the extraterritorial... 1051@http://www.the10b-5daily.com/ Appellate Monitor 2009-11-30T22:54:41-05:00 http://www.the10b-5daily.com/archives/001050.html A mere fourteen years after the passage of the Private Securities Litigation Reform Act, litigation over the meaning of the various procedural provisions continues. Two recent cases highlight disputes over the role of the court in the selection of lead... 1050@http://www.the10b-5daily.com/ Discovery Stay 2009-11-20T21:58:43-05:00 http://www.the10b-5daily.com/archives/001049.html Marsh & McLennan Companies, Inc. (NYSE: MMC), a global professional services firm, has announced the preliminary settlement of the securities class action pending against the company in the S.D.N.Y. The case was originally filed in 2004 and is based on... 1049@http://www.the10b-5daily.com/ Settlement 2009-11-13T23:26:44-05:00 http://www.the10b-5daily.com/archives/001048.html A couple of interesting items from around the web. Pay To Play - In the context of securities litigation, "pay to play" is when lawyers compete to be selected as class counsel for public entities serving as lead plaintiffs in... 1048@http://www.the10b-5daily.com/ All The News That's Fit To Blog 2009-11-06T23:32:50-05:00 http://www.the10b-5daily.com/archives/001047.html When the U.S. Supreme Court asked for the government's view on the National Australia Bank cert petition, it seemed a safe bet that the government would encourage the Court to take the case. After all, the SEC had filed an... 1047@http://www.the10b-5daily.com/ Appellate Monitor 2009-10-30T21:43:37-05:00 http://www.the10b-5daily.com/archives/001046.html The U.S. Court of Appeals for the Sixth Circuit issued an opinion this week in Indiana State District Council v. Omnicare, Inc., 2009 WL 3365189 (6th Cir. Oct. 21, 2009) that has a few interesting holdings. (1) Loss causation -... 1046@http://www.the10b-5daily.com/ Appellate Monitor 2009-10-23T22:11:32-05:00