The global spread of litigation continues as Fortis is now in the midst of a $1.3 billion settlement in Dutch courts. The settlement follows US courts pushing away securities suits in the US under rulings from SCOTUS regarding its view of the proper scope of US jurisdiction. As I described back in 2010, the inevitable… Continue Reading
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Canadian Securities Class Actions – 2009 Summarized
Posted in Global Securities LitigationGo here for a sumamry from D & O Diary of NERA’s new study/report on Canadian securities cases.… Continue Reading
Ratings Agencies Sued By Ohio Attorney General
Posted in 2008-09 Financial Fiascos, Global Securities Litigation, SecuritiesIt was just a matter of time. Seeking a civil remedy for the oft-criticized credit ratings issued by the various ratings agencies, The Ohio Attorney General retained private counsel and has filed suit “on behalf of the Ohio Public Employees Retirement System, the State Teachers Retirement System of Ohio, the Ohio Police & Fire Pension… Continue Reading
$ 1 Billion Class Action Suit for Mexican Investors Invokes Aiding + Abetting Claim Against Stanford Insurer and Broker
Posted in 2008-09 Financial Fiascos, Aiding + Abetting, Global Securities Litigation, Global Tort Choice of Law IssuesThe AmLaw blog post here describes and includes a link to a newly filed complaint that seeks $ 1 billion and a class action for Mexican investors hurt by the Stanford ponzi scheme. The complaint invokes aiding and abetting claims against Willis and an insurance broker. Of note, the complaint was not filed by a… Continue Reading