The discovery rule did not apply to extend the time frame for the Securities and Exchange Commission to bring an enforcement action against those who allegedly aided and abetted investment adviser fraud, a unanimous U.S. Supreme Court has ruled.
A securities fraud plaintiff was not required to submit proof of materiality in order to obtain class certification, the U.S. Supreme Court has ruled 6-3.
A corporate employee who was allegedly fired for reporting that his supervisors were violating the company’s pension plan could sue for retaliation under the Dodd-Frank Act, even if he didn’t make disclosures in the form ordinarily required by the Securities and Exchange Commission, a U.S. District Court in Connecticut has ruled in denying a motion to dismiss.
Drug maker Pfizer and its affiliates have settled nearly half of the product liability claims involving the hormone-replacement therapy drugs Prempro, Premarin and Provera, according to a regulatory filing.
According to many employment and litigation defense attorneys, the new whistleblower and bounty provisions of the Dodd-Frank Wall Street Reform Act are turning employees into potential adversaries.
ASHINGTON – During lively oral arguments in a case that could have implications far beyond the securities fraud sphere, the justices of the U.S. Supreme Court tried to determine just what constitutes material information that should be disclosed to shareholders.
Walter Mathews, a former Securities and Exchange Commission enforcement attorney, now runs a small law firm dedicated to cleaning up financial fraud in South Florida.