Tag Archives: securities class action

2015 Securities Class Actions by the Numbers

Photo of Shawn P. HoughBy Shawn P. Hough on Posted in Securities
2015 was a busy, fast-paced year for securities class action filings. According to a report published by NERA Economic Consulting, 234 federal securities class action complaints were filed in 2015. This is the highest number of filings since 2008 and marks an 8 percent increase over 2014. The 2015 median time between the end of … Continue Reading

Wall Street Banks, Stock Exchanges and High Frequency Trading Firms Hit With Securities Fraud Class Action

By David M. McMillan on Posted in Class Action Trends, Securities
Last month, the City of Providence, Rhode Island filed a first-of-its-kind class action against Wall Street banks, securities exchanges and brokerage firms over alleged violations of federal securities laws stemming from the defendants’ involvement in so-called “high-frequency trading” (HFT).  HFT has been subject of heightened focus since numerous regulators launched investigations into the practice, which … Continue Reading

BlackBerry Hit With New Class Action Amid Claims The Company Misled Investors About The BlackBerry 10

Photo of Darren CrookBy Darren Crook on Posted in Securities
BlackBerry and two of its highest-ranking executives were hit on Friday with a proposed class action lawsuit by a shareholder claiming the company misled investors in reports made regarding the BlackBerry 10 smartphone line.  The suit, filed in the Southern District of New York, alleges that, despite BlackBerry’s promise that the Blackberry 10 platform would … Continue Reading

Amgen Argument Points Up Split in Supreme Court on Class Certification Versus Merits Issues

By Deborah Renner on Posted in Class Action Trends, Securities
On November 5, 2012, the U.S. Supreme Court heard argument in Amgen, Inc. v. Connecticut Retirement Plans and Trust Funds, No. 1085, a securities class action, that concerned the ongoing question of what evidence is required at the class certification stage of a case as opposed to the merits phase of a case.  (See our blog … Continue Reading

Fraud-on-the-Market Allowed by Third Circuit to Certify Class in a Ruling That Differs Sharply From Fifth Circuit

By Michael Matthias on Posted in Rule 23 Requirements, Securities
In In re DVI, Inc. Securities Litigation, 639 F.3d 623 (3d Cir. 2011), the Third Circuit affirmed the district court’s holding that common class issues predominated over individual issues.  The Third Circuit found that the district court had correctly invoked the fraud-on-the-market presumption of reliance to partially grant plaintiffs’ certification motion. Investors of DVI, a … Continue Reading
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