Kirk Hartley
Twiqbal, Pleadings, and Subjectivity of Decisions on Accountant Scienter – A Review of the Out
Alison Frankel provided a helpful new post on the conclusions reached by business professors after a study of 144 federal court decisions...
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Kirk Hartley
Jan 16, 20131 min
What Happens to Derivative Shareholder Claims When Shareholders Change Due to a Merger After Ruinou
Corporate stock prices can plummet when a company faces a crisis. Suppose the crisis results in a change of ownership via a merger at a...
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Kirk Hartley
Nov 15, 20121 min
One Federal Judge Approves SEC Clawback Action Against CEOs and CFOs After Restatement of Financials
A new federal ruling denies motions to dismiss an SEC suit seeking to clawback bonuses and stock sale profits from the CEO and CFO of a...
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Kirk Hartley
Aug 3, 20121 min
Citi’s Senior Execs Damned by Comments from the Foreperson of the Jury in the Stoker/Citi Tria
Citi and other large banks should be very grateful for the Twiqbal rule that keeps knocking out cases on pleading motions. Indeed,...
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Kirk Hartley
Jun 15, 20121 min
Financial Industry Risks Go Up – Gupta Convicted for Insider Trading, and 110 Years for Stanfo
Not a good week for the financial industry, and reputation risks increase accordingly. The jury did not take long to find Mr. Gupta...
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Kirk Hartley
Jun 14, 20121 min
Interesting Proposal to Put Highly Paid Financiers at Personal Risk If Their Firms Fail
A D & O Diary post includes some interesting back and forth proposals by smart people about whether highly paid financiers should be...
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Kirk Hartley
Jun 12, 20121 min
Materiality of a Misrepresentation by a Public Company – The US Supreme Court Has Granted Cert
The US Supreme Court granted certiorari yesterday on a significant issue for securities litigation class actions. The case is a...
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Kirk Hartley
May 24, 20121 min
Occupy Wall Street Subgroup Files Cogent Amicus Brief Supporting Judge Rakoff on SEC Settlements
An "Occupy Wall Street" subgroup is making its mark in securities litigation and regulation. The point is illustrated by the story below...
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Kirk Hartley
Apr 13, 20121 min
SEC Report on Cross-Border Securities Litigation
The SEC has issued a new report on cross-border securities litigation. Kevin LaCroix has the story in a new post. Here’s the introductory...
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Kirk Hartley
Mar 6, 20121 min
Goldman Sachs Ripped – Again – This Time by the Top Judge in Delaware Chancery
Unlike lawyers and other professionals, investment banking firms are not bound by any kind of ethical code. Therefore, Goldman Sachs and...
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Kirk Hartley
Feb 28, 20121 min
Traders of Bonds Issued by Nations Figure Out that Choice of Law Matters as to What Can Happen to th
"Hey, what does the contract say about choice of law?" That’s a question bond traders are asking now that they’ve figured out they may...
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Kirk Hartley
Feb 13, 20121 min
Compilation of Materials on Waves of Suits Related to M & A
Kevin LaCroix at D & O Diary put together a new post compiling several new presentations on the vast amounts of litigation related to...
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Kirk Hartley
Jan 23, 20122 min
Can IPO Terms Actually Preclude Investor Class Actions and Other Traditional Rights of Traditional S
Carlyle Group’s IPO papers include – so far – terms purporting to preclude future class actions over securities disclosures. Ahead should...
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Kirk Hartley
Jan 10, 20124 min
Investment Banker Skewers Academics Who Miss the Picture on Risk and Compensation
Candor is refreshing. Specifically, a new academic paper apparently suggests that incentive structures at banks at large banks was not a...
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Kirk Hartley
Dec 9, 20111 min
Defining An Earnings Metric That Excludes Litigation Costs – GSK Embraces a New “Core Ea
Reuters brings this interesting story of GlaxoSmithKline creating a new metric – core earnings – that excludes various categories of...
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Kirk Hartley
Dec 6, 20111 min
Prosecuting Wall Street
This past weekend, US television magazine 60 Minutes added its voice to the dialog about the absence of criminal prosecutions for the...
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Kirk Hartley
Sep 26, 20112 min
Recurring Tactics and Strategies in Securities Fraud Litigation Over Chinese Entities, and Defamatio
AmLaw Litigation Daily includes this interesting post by David Bario on recurring litigation patterns and tactics in securities fraud...
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Kirk Hartley
May 12, 20111 min
Galleon’s Leader Goes Down On All Counts !
Great to see these convictions. And, remember, the original charges involved insider trading in 37 stocks, but the government winnowed...
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Kirk Hartley
Jan 11, 20111 min
Securities Suits Move Out of the US and in to a Dutch Court – Was Morrison a True Win ?
As previously covered here and here, litigants need to be careful about their strategic wishes and choices. One wonders what the...
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Kirk Hartley
Sep 9, 20101 min
International Lawyers Commenting on Netherlands as Settlement Forum for Global Securities Claims Aga
Having more or less won the so-called f-cubed securities cases to limit US jurisdiction on securities claims, defendants in securities...
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