Alison Frankel provided a helpful new post on the conclusions reached by business professors after a study of 144 federal court decisions on scienter in accounting class action cases. The conclusion?

"The law of pleading scienter against external auditors in (securities fraud) cases is so vague and inconsistent that, as a practical matter, judges

The US Supreme Court granted certiorari yesterday on a significant issue for securities litigation class actions. The case is a securities claim in the Ninth Circuit against Amgen, and involves Amgen’s statements about product safety for two products.

Scotusblog includes a concise summary of the "materiality" issue, and links to the opinion below and the briefs

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 paragraph – the post adds useful commentary and links:

"On April 11, 2012, as required by the Dodd-Frank Act, the SEC released its study of cross-border private securities litigation, entitled