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Rebutting the Presumption of Reliance in Securities Class Actions
Roger A. Cooper, Matthew M. Bunda and Anthony M. Shults of Cleary Gottlieb Steen & Hamilton write: Because few securities cases go to trial, there have been few cases in which courts have considered whether defendants have, on an individual basis, rebutted the presumption of reliance established in 'Basic v. Levinson.' A recent decision from the Southern District of New York, however, "is just such an extraordinary case."It's been a tough slog through the courts for a group of pharmacy plaintiffs with antitrust claims against some of the biggest drug companies in the land. Plaintiffs lawyer Joseph Alioto stuck with the case for nearly a decade, including through two trips to the California Supreme Court. Now he's finally run out of appeals.
New CPLR 7502(c): Can Legislature Interpret Federal Law for N.Y.?
Robert P. Knapp III, a member of Mulholland & Knapp, writes that one of the peculiarities of our federal system of concurrent federal and state jurisdiction is that each court system can make its own interpretation of the same law. Until the highest court in either system � the U.S. Supreme Court for the federal system and the New York Court of Appeals for this state � has issued a definitive interpretation of a federal or state law, the same law can be given contradictory interpretations in each system.U.S. DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK Judge Lynch Sony Ericsson Mobile Communications (USA), Inc. ("Sony Ericsson") moves to quash a deposition subpoena is
Appealed from: United States District Court for the Southern District of New YorkJudge Alvin K. HellersteinDissenting opinion filed by Circuit Judge DYK.Enzo Biochem, Inc. appeals from the de
Appealed from: United States District Court for the Central District of CaliforniaJudge Florence-Marie CooperConcurring opinion filed by Circuit Judge SCHALL.The Lucks Company ("Lucks") appea
District Judge Sidney H. Stein U.S. DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK Judge Stein [Footnotes Deleted for Publication] After trial on t
Attorney Ineligibility Order Pursuant to Rule 1:28-2(a)
Notice to the bar.Before LINN, FRIEDMAN, and DYK, Circuit Judges.Opinion for the court filed by Circuit Judge DYK. Opinion concurring-in-part and dissenting-in-part filed by Circuit Judge LINN.Therasense, Inc. (n
Midsize Eastern Firms Get Aggressive in L.A.
Los Angeles has morphed into a recruiting hotbed in the past nine months as several midsize firms from the East Coast aggressively opened offices. Several of those firms lured large groups of lawyers from well-known local firms in a legal market rife with dissolutions and an unusually high number of defections. "The last six months, particularly on the west side of L.A., have been hot," says Roger Warin, chairman of Steptoe & Johnson, which opened its second Los Angeles office, in Century City, last July.Trending Stories