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Settlement Securities Litigation

Ropes & Gray LLP

District Court Strikes Down $40 Million Settlement Agreement in Target Date Funds Case Based on Parallel SEC Settlement

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On May 19, 2025, the United States District Court for the Eastern District of Pennsylvania (the “Court”) denied final approval of a $40 million proposed settlement in a major class action lawsuit against The Vanguard Group,...more

Cooley LLP

Securities Class Action Settlement Trends: Smaller Sizes and Smaller Players, According to Cornerstone Research

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Cornerstone Research, a top consulting and expert testimony firm, recently issued its annual report analyzing securities class action settlements. Cornerstone reports that, in 2024, both total settlement dollars and the...more

Woodruff Sawyer

Derivative Suit Exposure: More Art Than Science

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Derivative suits are a topic of discussion that continues to challenge directors, officers, and insurers alike. The issue is particularly fraught for individual directors and officers because Delaware-incorporated companies...more

Cornerstone Research

Number of Accounting-Related Securities Class Action Filings and Settlements Remained Steady in 2024 as Size of Settlements Shrunk

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The number of accounting-related securities class action filings and settlements remained steady in 2024, with the number of filings increasing slightly and for the third consecutive year, according to a new report from...more

A&O Shearman

Fifth Circuit Securities Litigation Quarterly: first quarter 2025

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Welcome to the Q1 2025 edition of A&O Shearman’s Fifth Circuit Securities Litigation Quarterly. As public companies and financial institutions continue to migrate to Texas, our Texas-based securities litigation team continues...more

Morris James LLP

Supreme Court Affirms Chancery Decision of Near-Record $267 Million Fee Award

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In re Dell Techs. Inc. Class V S’holders Litig., No. 349, 2023 (Del. Aug. 14, 2024) - After an appeal of the second-largest fee award in Delaware history, the Delaware Supreme Court ruled that the Court of Chancery had...more

Wiley Rein LLP

Supreme Court of Delaware Reverses Lower Court’s Ruling, Clarifies “Relatedness” Standard

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The Supreme Court of Delaware, applying Delaware’s “meaningful linkage” standard, has held that wrongful acts alleged in a securities class action were meaningfully linked to wrongful acts alleged by the SEC, such that the...more

Patterson Belknap Webb & Tyler LLP

DraftKings NFT Settlement Leaves Securities Question in Limbo

A class action lawsuit brought against online gaming company DraftKings Inc. relating to the company’s short-lived marketplace for non-fungible tokens, or NFTs, is likely to settle. Because the case will not proceed to a...more

Woodruff Sawyer

Securities Motion to Dismiss Trends (Part 3): The Central District of California

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In this last article in his three-part series, my partner and securities litigator Walker Newell looked at motion to dismiss trends in the Central District of California, which covers Los Angeles and Orange County. The CD...more

Woodruff Sawyer

Securities Class Actions 2024 Recap: An Uptick in Filings Plus Record-Breaking Settlements [Report]

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Woodruff Sawyer’s D&O Databox™ Year-End Report provides insights about securities class action activities, developments, and historical trends—sourced from Databox, our proprietary database and leading resource for securities...more

McCarter & English, LLP

Delaware Court Holds Settlement of Underlying Securities Litigation Is Covered Under D&O Policy, Rejecting Insurers’ Assertion of...

A Delaware court recently found for the policyholders in determining that a directors and officers (D&O) liability policy covered the settlement of an underlying action alleging violations of the Securities Exchange Act of...more

Kennedys

Delaware Supreme Court reverses trial court for failing to apply "Interrelated Wrongful Acts" analysis correctly

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On February 4, 2025, the Delaware Supreme Court, sitting en banc, determined that the Wrongful Acts alleged in a securities class action against Alexion Pharmaceuticals, Inc. had a “meaningful linkage” with the Wrongful Acts...more

Woodruff Sawyer

Securities Motion to Dismiss Trends (Part 2): The Southern District of New York

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Last year, just three federal district courts handled half of all securities class actions. In the second part of his three-part series, my partner and securities litigator Walker Newell reviews motion to dismiss trends in...more

A&O Shearman

Delaware Superior Court Holds That Bump-Up Exclusion In D&O Insurance Does Not Apply To Securities Claims Arising Out Of An M&A...

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On January 3, 2025, Judge Paul R. Wallace of the Superior Court for the State of Delaware granted plaintiff’s motion for summary judgment in a directors and officers (“D&O”) insurance denial case against. Harman Int’l Indus....more

Jones Day

Delaware Court Rejects Application of D&O Policy's "Bump-Up" Exclusion to Securities Claim Settlement

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In a significant victory for policyholders, the Delaware Superior Court rejected three insurers' attempts to apply their Directors and Officers Liability ("D&O") policies' so-called "bump-up" exclusion to bar coverage for...more

A&O Shearman

Fifth Circuit Securities Litigation Quarterly - Q4 2024

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Welcome to the Q4 2024 edition of A&O Shearman’s Fifth Circuit Securities Litigation Quarterly. As public companies and financial institutions continue to migrate to Texas, our Texas-based securities litigation team continues...more

Moore & Van Allen PLLC

SEC Settlement Reminds Firms to Periodically Review Their Use of Models, Calculators and Tools When Making Client Recommendations

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On October 2, 2024, the Securities and Exchange Commission (“SEC”) announced it had settled enforcement proceedings against Thrivent Investment Management, Inc. (“Thrivent”), a SEC dually-registered broker-dealer and...more

A&O Shearman

Fifth Circuit Securities Litigation Quarterly: Third Quarter 2024

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Welcome to the Q3 2024 edition of A&O Shearman’s Fifth Circuit Securities Litigation Quarterly. As public companies and financial institutions continue to migrate to Texas, our Texas-based securities litigation team continues...more

Sheppard Mullin Richter & Hampton LLP

Latest Round of SEC “Off-Channel” Communications Settlements Highlights Risks for Investment Advisers and Benefits of...

More than two years after announcing the first round of settlements in the ongoing “off-channel communications” probe, the SEC recently announced another round of settlements with 26 financial firms, totaling $390 million in...more

Cornerstone Research

Parallel Derivative Action Settlement Outcomes: 2023 Review and Analysis

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The authors examine settlement outcomes of derivative lawsuits linked to securities class actions, focusing on 110 cases associated with securities class action settlements between 2019 and 2023....more

Alston & Bird

SEC Settlement Suggests the Agency’s Attempt to Regulate Cybersecurity Controls

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Does the R.R. Donnelley settlement mean heightened Securities and Exchange Commission (SEC) involvement in regulating public companies’ cybersecurity policies and practices? Our Securities Litigation, Privacy, Cyber & Data...more

Woodruff Sawyer

How to Minimize Risk in the Current Litigation Environment

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This month's SPAC Notebook follows up on our recent discussion of risk mitigation and due diligence tips for foreign companies going public in the US. We want to share more information on the current litigation environment...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: March 1, 2024

The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more

Cooley LLP

Securities Class Action Settlement Trends: Number of Settlements Down, But Dollar Amounts Up, According to Cornerstone Research

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Cornerstone Research, a top consulting and expert testimony firm, recently issued its annual report analyzing securities class action settlements. Cornerstone reported that, in 2023, the number of settlements in securities...more

Cornerstone Research

Securities Class Action Settlements: 2023 Review and Analysis - Total Settlement Dollars

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While the number of settlements in 2023 declined by more than 20% from 2022, 2023 total settlement dollars were roughly the same as in 2022....more

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