Securities Fraud, Financial Markets, Publicly-Traded Companies

Number of Securities Class Action Settlements Rises Slightly as Median Settlement Amount Declines from 2023 13-Year High

Cornerstone Research on 3/26/2025

The number of securities class action settlements increased slightly in 2024 while the size of those settlements declined, according to a new report from Cornerstone Research. The report, Securities Class Action...more

SEC Releases Strategic Plan for Comment

Mayer Brown Free Writings + Perspectives on 8/31/2022

The Securities and Exchange Commission recently released for comment a draft strategic plan for fiscal years 2022 to 2026. In the accompanying message from Chair Gary Gensler, the Chair notes that the strategic plan focuses...more

Publicly Traded Companies Continue to Face High Volume of Securities Fraud Cases as Markets Tumble

Robins Kaplan LLP on 3/13/2020

Recent tumultuous markets seem to have brought with them a continued flurry of stock drop cases, including five that were filed last week alone in New York, New Jersey, and California. The putative class actions, which seek...more

Eleventh Circuit Confirms that Issuers are not Required to Disclose Retention of Outside Promotional Firms

King & Spalding on 12/21/2016

On December 15, 2016, the United States Court of Appeals for the Eleventh Circuit affirmed the dismissal of a securities class action against Galectin Therapeutics Inc., a Georgia-based biotechnology company. The suit...more

Dismissal for Drugmaker Affirmed: Galectin Had No Duty to Disclose Payments to Promoters

Carlton Fields on 12/20/2016

In re: Galectin Therapeutics, Inc. Securities Litigation, No. 16-10324, 2016 WL 7240146, ____ , F2d ___ (11th Cir. Dec. 15, 2016). The Eleventh Circuit recently addressed the circumstances under which a public company...more

SEC ALJ Dismisses Case: Inside-Info Trades, But No Tipper Benefit

Burr & Forman on 9/16/2015

An SEC administrative law judge (“ALJ”) found that former Wells Fargo trader Joseph Ruggieri traded on material nonpublic information tipped him by former analyst Greg Bolan, but dismissed the insider-trading charges against...more

Cornerstone Report Describes Securities Class Action Litigation Shift Toward West Coast and Smaller Public Companies

Carlton Fields on 9/9/2015

Recently, Cornerstone Research, an economic and financial consultancy, released its mid-year report on federal securities class action filings. Cornerstone reported that 85 of these lawsuits were filed in the first half of...more

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