0 results for 'Bernstein Litowitz Berger'
Three recent securities class action filings against nonfinancial defendants, all involving class periods that ended in 2007, led D&O Diary to wonder if plaintiffs firms were just getting to a batch of cases they'd deferred in the frenzy to file against banks. One prominent plaintiffs lawyer says no way.
Judge Limits Foreign Damages in YouTube Copyright Case
Not every claim in the proposed copyright class action against Google's YouTube will survive, Manhattan federal district court Judge Louis Stanton ruled recently. The unlucky ones include claims for statutory damages for certain foreign works not copyrighted in the U.S. The judge dismissed plaintiffs' request for punitive damages for alleged willful infringement of foreign works, but found that foreign works of live broadcasters are eligible for statutory damages claims.The plaintiffs failed to pin liability on three financial officers of Horizon Lines, and the company, for a price-fixing conspiracy devised by others.
Sullivan & Cromwell succeeded in knocking out a class action claim that UBS was liable for underwriting dubious HealthSouth bonds. But the judge's opinion doesn't exactly bode well for the bank in a related case.
David Frederick is rapidly becoming the new best friend of plaintiffs at the Supreme Court. His latest win--for Merck shareholders suing over the company's Vioxx disclosures--should open the door wider for the securities class action bar.
Is the Senator from Pennsylvania--who recently introduced a Stoneridge rollback amendment to the financial reform bill--a tool of the plaintiffs bar? Apparently, the corporate lawyers who've given him hundreds of thousands of dollars since 2005 didn't get that memo.
Twice before, the securities class action has been tossed without prejudice. This time, a new judge said the plaintiffs are out of chances.
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