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
The following post is reprinted with permission from Paul Karlsgodt’s blog, www.classactionblawg.com. Stay tuned over the coming days for more in-depth analysis of the Amgen decision and its potential implications for securities class actions and class actions more generally. The Supreme Court has issued its opinion in one of the most highly anticipated class action-related cases on … Continue Reading
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
Posted in Class Certification, Securities
