Bill would allow investor “scheme liability” civil suits
WASHINGTON – Sen. Arlen Specter, D-Pa., has introduced legislation that would allow civil suits to broaden the number of actors that may be sued for securities law violations. The bill, S. 1551, called...
View ArticleSECURITIES REGULATION
A portion of the Sarbanes-Oxley Act violates the Constitution’s Appointments Clause because it limits the president’s ability to remove members of the Public Company Accounting Oversight Board. U.S....
View ArticleSECURITIES LAW
The two-year statute of limitations period under §16(b) of the Securities Exchange Act begins to run when the plaintiff becomes aware of the facts underlying the claim, not upon an insider’s filing of...
View ArticleClass counsel can’t be sued for malpractice in state court
Class members could be enjoined from suing class counsel for malpractice in state court following a federal court’s approval of a global settlement, the 2nd Circuit has ruled in affirming judgment. The...
View ArticleCan plaintiffs recover from Ponzi scheme in state court?
Does the Securities Litigation Standards Act preempt state-law class actions claiming that the defendant engaged in a Ponzi scheme involving misrepresentations about transactions with securities...
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