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The full case caption appears at the end of this opinion.KENNEDY, Circuit Judge. Plaintiffs, A. Carl Helwig, et al., on behalf of themselves and others similarly sit
Mediation May Rev Up Plodding Enron Civil Litigation
Just more than a month after U.S. District Judge Melinda Harmon of Houston lifted a discovery stay in the massive Enron Corp. class-action litigation, Harmon and the New York federal judge presiding over Enron's bankruptcy ordered many of the parties to mediation.After a hostile reception by the Justices at oral arguments, plaintiffs lawyers doubted the high court would endorse U.S. securities claims by foreign investors who bought shares of foreign companies on foreign exchanges. They just prayed the damage would be limited. Those hopes were dashed by the Court's unanimous ruling Thursday. We've got analysis from the lawyers who argued both sides at the Court.
'Lack of Frankness' Faulted Over Loss of Discovery Materials
Saying that a "lack of frankness in discovery can have unintended and damaging consequences," a Manhattan federal magistrate judge has sanctioned plaintiffs for failure to preserve evidence in a consolidated securities fraud action against underwriters CIBC and Schroder. The judge said that the plaintiffs, who are purchasers of preferred stock or senior notes of the now-bankrupt WRT Energy Corporation, had an obligation to preserve certain documents that were in the possession of WRT's successor.District Judge Harold Baer, Jr. U.S. DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK For Plaintiff: Pro se For the Defendant: Kevin A. Madden Assistant
U.S. District Court Southern District of New York Judge Bernstein This case involves the application of the doctrine of excusable neglect to a late class proof of clai
The Global Lawyer last examined the broad impact of Morrison v. National Australia Bank in the U.S. federal courts, and the limited prospects for state law workarounds for world-spanning securities claims. Where else in the world might global securities class actions be filed? And could an international treaty someday govern them?
A Long-Term Strategy for Settlement
Last week, MicroStrategy Inc. settled a securities fraud class action for $113.7 million with a novel long-term payment plan. But the company's legal woes are far from over. An executive's discrimination complaint, filed around the same time the stock troubles surfaced, has so far cost the company $500,000 in attorney fees and has already led to litigation in three different courts.A Buyer's Guide to Law Firm Software
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Revenue, Profit, Cash: Managing Law Firms for Success
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