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Globalization of Litigation Continues; the $1.3 Billion Fortis Securities Settlement Provides an Example

Posted in Global Securities Litigation, Litigation Industry

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

Ratings Agencies Sued By Ohio Attorney General

Posted in 2008-09 Financial Fiascos, Global Securities Litigation, Securities

It 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 Issues

The 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