Tag Archives: securities fraud

Law firm sued by bankruptcy trustee for aiding Ponzi scheme

The law firm Shook Hardy & Bacon, based in Kansas City, Mo. has been sued by the bankruptcy trustee for aiding and abetting University of Miami booster Nevin Shapiro’s $930 million Ponzi scheme.

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Justices take up fraud-on-the-market case

The U.S. Supreme Court has agreed to decide whether plaintiffs must prove materiality to certify a fraud-on-the-market case for class status, and also whether the defendant may present evidence rebutting the applicability of the fraud-on-the-market theory before the certification stage.

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High Court considers securities fraud class action burden

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.

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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. Matrixx Initiatives ...

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