0 results for 'Grant & Eisenhofer'
Class action litigation is beginning to take shape over allegations that major banks manipulated Libor, the benchmark rate used to calculate interest on trillions of dollars in securities globally. On Monday the federal district court judge hearing the litigation consolidated 20 class complaints, and appointed interim class counsel.
Bondholders who bought into Washington Mutual Bank's $22 billion note offering never agreed to the proposed deal announced last month. At the time, WaMu Inc. said it didn't matter because the bondholders didn't have standing in its Chapter 11. Well, now they do.
Longtop Financial Technologies, the Chinese company whose fortunes were upended last year by a billion-dollar accounting scandal, has yet to file an appearance in federal multidistrict litigation accusing it of massive securities fraud. After reading the most recent opinion in the case, we can understand why Longtop might be avoiding U.S. courts.
Are Milberg Weiss' Glory Days Over?
After losing a bid to act as lead counsel in the $3 billion McKesson securities fraud litigation, Milberg Weiss suffers another blow - this time, the loss of key rainmaker Alan Schulman to a competitor. Schulman, viewed by many as second only to William Lerach as the most influential West Coast securities plaintiffs lawyer, attributes his departure to "philosophical differences with Bill Lerach over the direction of the firm."Toyota litigation hits roadblocks
Shareholder lawsuits against Toyota Motor Corp. face several obstacles. A judge has questioned why several motions for lead counsel status were filed on behalf of large groups of investors rather than individual investors. And foreign investors face a potentially adverse Supreme Court ruling.Backdating Plaintiffs Win Early Rounds
Recent rulings have carved out a victorious first round for civil plaintiffs in stock-options backdating cases after judges refused to dismiss four of their suits. At issue in most of the cases was whether plaintiff shareholders should have demanded books and records from the companies' boards of directors before filing their lawsuits. Some of the plaintiffs successfully pleaded "demand futility" by showing that directors were not objective or that their acts were not of sound "business judgment."Trending Stories
Insights and Strategies for Effective Succession Planning in AM Law 100 Firms
Brought to you by Gallagher
Download Now
State AI Legislation Is on the Move in 2024
Brought to you by LexisNexis®
Download Now
2024 ESI Risk Management & Litigation Readiness Report
Brought to you by Pagefreezer
Download Now
Creating a Culture of Compliance
Brought to you by Ironclad
Download Now