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Class action allowed under fraud-on-the-market theory 

Published: November 10, 2011

Tags: class action, FDA, Food and Drug Administration, fraud on the market, Securities Exchange Act, securities fraud

A securities fraud class action could proceed under a presumption that individual class members relied on the defendant’s alleged misrepresentations, the 9th Circuit has ruled in affirming certification.

Couple wins $9.85 million on security company investment 

By: Alan Cooper
Published: August 16, 2011

Tags: securities fraud, Virginia

A federal jury in Virginia has awarded $9.85 million to a couple who alleged that the Virginia Beach proprietor of a security company defrauded them of money they had received from the sale of a medical waste disposal business.

Supreme Court nixes shareholders’ 10-b claim 

Published: June 13, 2011

Tags: Rule 10-b, Securities and Exchange Commission, securities fraud, Supreme Court

A service management company cannot be liable under Securities and Exchange Commission Rule 10b-5 for alleged securities violations of the mutual funds it sponsors, the U.S. Supreme Court has ruled.

SECURITIES FRAUD 

Published: June 13, 2011

Tags: Rule 10-b, Securities and Exchange Commission, securities fraud, Supreme Court

A service management company cannot be liable under Securities and Exchange Commission Rule 10b-5 for alleged securities violations of the mutual funds it sponsors.

See “Supreme Court nixes shareholders’ 10-b claim.”

U.S. Supreme Court. Janus Capital Group v. First Derivative Traders, No. 09-525. June 13, 2011. Lawyers
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Justices rule on fraud class certification 

Published: June 6, 2011

Tags: class action, loss causation, Securities Exchange Act, securities fraud, Supreme Court

Securities fraud plaintiffs need not prove loss causation in order to obtain class certification, the U.S. Supreme Court has ruled.

CLASS ACTIONS 

Published: June 6, 2011

Tags: class action, loss causation, Securities Exchange Act, securities fraud, Supreme Court

Securities fraud plaintiffs need not prove loss causation in order to obtain class certification.

See “Justices rule on fraud class certification.”

U.S. Supreme Court. Erica P. John Fund v. Halliburton, No. 09-1403. June 6, 2011. Lawyers USA No. 993-2966.

High Court considers securities fraud class action burden 

By: Kimberly Atkins
Published: April 25, 2011

Tags: class action, loss causation, Securities Exchange Act, securities fraud, Supreme Court

WASHINGTON – During oral arguments Monday, the U.S. Supreme Court pondered whether plaintiffs seeking class certification in a fraud-on-the-market securities fraud claim must prove that a company’s alleged false statements caused its stock to lose value.

SECURITIES FRAUD 

By: Pat Murphy
Published: March 22, 2011

Tags: securities fraud

A pharmaceutical company can be sued for securities fraud based on allegations that it failed to fully disclose “adverse events” related to its over-the-counter cold remedy.

See “Zicam maker can be sued for securities fraud.”

U.S. Supreme Court. » Continue Reading.

Pharmaceutical company can be sued for securities fraud 

By: Pat Murphy
Published: March 22, 2011

Tags: class action, securities fraud, Zicam

A pharmaceutical company can be sued for securities fraud based on allegations that it failed to fully disclose “adverse events” related to its over-the-counter cold remedy,  the U.S. Supreme Court has ruled in a unanimous decision.

Justices ponder if whiff of a problem equals securities fraud 

By: Kimberly Atkins
Published: January 10, 2011

Tags: FDA, Matrixx Initiatives, product liability, SEC, securities fraud, Supreme Court

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.