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The 10b-5 Daily 

News and events related to securities class action litigation. Containing all facts, with particularity, and an occasional dose of commentary.
Post Frequency: 2/day Last Entry: March 23, 2011 at 00:48:53 Recent Entries: 245
Go to The 10b-5 Daily, find other Corporate & Securities Law blogs, or browse all law blogs.
Must Have Known
Posted on July 12, 2008In Berson v. Applied Signal Tech., Inc., 527 F.3d 982 (9th Cir. 2008), the company allegedly misled investors into believing it was likely to perform contracted work. According to the plaintiffs, however, the work had actually ceased pursuant to “stop-work”...
Coca-Cola Settles
Posted on July 11, 2008Coca-Cola Co. (NYSE: KO), the world’s largest manufacturer, distributor, and marketer of nonalcoholic beverages and syrups, has agreed to the preliminary settlement of the securities class action pending against it in the N.D. of Georgia. The long-running case, originally filed...
UnitedHealth Settles
Posted on July 03, 2008UnitedHealth Group, Inc. (NYSE: UNH), a Minnesota-based diversified health and well-being company, has announced the preliminary settlement of the securities class action pending against it in the D. of Minn. The case, originally filed in December 2006, stems from allegations...
The GM Paradigm
Posted on July 02, 2008Whether a plaintiff can establish the scienter of a defendant corporation based on the collective knowledge of the corporation's employees, commonly referred to as the "collective scienter" theory, is a topic that is getting increased attention in the courts...
Break In The Action
Posted on June 23, 2008There will be no new posts on The 10b-5 Daily until after June 30....
Global Fraud On The Market
Posted on June 18, 2008The jurisdictional issues surrounding "foreign cubed" cases - i.e., an action brought against a foreign issuer, on behalf of a class that includes not only investors who purchased the securities in question on a U.S. securities exchange, but also foreign...
The Business Of Getting Business
Posted on June 13, 2008The recruitment of foreign institutional investors to act as lead plaintiffs in U.S. securities class actions is a well-established practice. An interesting look into how these clients are obtained can be found in a breach of contract action recently filed...
Around The Web
Posted on June 11, 2008A few items of interest from around the web. (1) Professor Michael Perino's paper finding that investors may have been damaged in cases where Milberg Weiss improperly compensated the lead plaintiff has some critics. Ideoblog has a comment and response...
Going To Trial
Posted on June 03, 2008The Wall Street Journal had an article in yesterday's edition on the JDS Uniphase securities class action trial. The article discusses how the inability to reach a settlement forced the company to risk bankruptcy by taking its chances with a...
Brocade Settles
Posted on June 02, 2008Brocade Communications Systems, Inc. (NASDAQ: BRCD), a California-based data center networking and services company, has announced the preliminary settlement of the securities class action pending against the company in the N.D. of California. The case, originally filed in May 2005,...
Opportunistic Objectors
Posted on May 30, 2008The Cardinal Health securities class action is the case that keeps on giving, at least as far as this blog is concerned. Having previously posted about the lead plaintiff, discovery stay, motion to dismiss, settlement, and attorneys' fees decisions in...
Cooperation
Posted on May 30, 2008(1) The New York Law Journal has an article on the assistance being provided by Refco's ex-CEO, Phillip R. Bennett, to the investors suing the company for securities fraud. The unusual cooperation came to light when plaintiffs' counsel submitted a...
Around The Web
Posted on May 24, 2008A few items of interest from around the web: (1) The New York Law Journal (May 19 edition) has an article on the global reach of securities class actions. In particular, the article discusses (a) the developing standards for subject...
Contrary To Common Sense
Posted on May 20, 2008One of the concerns raised by Congress, as part of the PSLRA, was that the application of traditional joint and several liability in securities cases may be unfair, given the enormous potential damages. To combat this problem, the PSLRA replaced...
How Many Prongs Are There?
Posted on May 16, 2008The long-running securities litigation related to Iridium World Communications, which attempted to create and market a global satellite phone system, has produced an interesting decision. In Freeland v. Iridium World Communications, 2008 WL 906388 (D...
Law Firm Excused
Posted on May 15, 2008The application of the Stoneridge decision is likely to develop slowly, as relatively few cases raise the issue of scheme liability. That said, the early returns look positive for defendants. In In re DVI Inc. Sec. Litig., 2008 WL 1900384...
Converium Settles
Posted on May 09, 2008Converium Holding AG, a Zurich-based international reinsurer acquired by SCOR in August 2007, has announced the preliminary settlement of the securities class action pending against the company in the Southern District of New York (S.D.N.Y.). The case, originally filed in...
Parmalat Settles
Posted on May 08, 2008Parmalat S.p.A., a producer and distributor of dairy products and fruit-based beverages based in Milan, Italy, has announced the preliminary settlement of the securities class action pending against the company in the S.D. of New York. The case, originally filed...
A Little Something For The Effort
Posted on May 03, 2008House Republican leaders John Boehner (R-OH) and Lamar Smith (R-TX) have asked the House Judiciary Committee to hold a hearing on the payment of kickbacks to lead plaintiffs in securities class actions. The press release and letter to the Chairman...
The Wheat From The Chaff
Posted on May 01, 2008Establishing loss causation for the purpose of class certification or summary judgment is becoming a significant hurdle for plaintiffs. On the heels of the Flowserve and Omnicom decisions comes another defense victory. In Fener v. Belo Corp., 2008 WL 876967...
No Reason To Make A Federal Case Out Of It
Posted on April 25, 2008How do you know when a judge does not think much of your case? When the quips start flying around in her decision. In City of Brockton Retirement System v. The Shaw Group Inc., 2008 WL 833943 (S.D.N.Y. March 18,...
Biovail Extends Settlement To Canada
Posted on April 24, 2008Biovail Corporation (NYSE: BVF and TSX: BVF), an Ontario-based specialty pharmaceutical company, has announced the tentative settlement of the securities class action pending against the company in Ontario Superior Court. The case, originally filed in September 2005, relies on the...
Need The Details
Posted on April 18, 2008The U.S. Court of Appeals for the First Circuit has previously held that the Tellabs decision lowered the pleading standard for scienter in its court. While that determination did not lead to a reversal of the dismissal in the ACA...
Aim For The Heart
Posted on April 16, 2008In its Tellabs decision, the U.S. Supreme Court created an "at least as compelling" standard for weighing competing inferences of scienter in securities fraud cases. The fact that a draw goes to the plaintiff was criticized by Justice Scalia in...
Aim For The Heart
Posted on April 16, 2008In its Tellabs decision, the U.S. Supreme Court created an "at least as compelling" standard for weighing competing inferences of scienter in securities fraud cases. The fact that a draw goes to the plaintiff was criticized by Justice Scalia in...
2007 PwC Securities Litigation Study
Posted on April 11, 2008PricewaterhouseCoopers has released its annual review of securities class actions. The findings include: (1) There were 163 filings in 2007, an increase of nearly 50% over the previous year. Subprime cases accounted for 37 of the filings. (2) The number...
Stoneridge Applied
Posted on April 07, 2008The Seventh Circuit is determined to be the market leader in interpreting U.S. Supreme Court securities litigation opinions. Following up on its application of Tellabs, last week it issued the first appellate decision utilizing the Stoneridge decision...
Xerox Settles
Posted on April 02, 2008Xerox Corp. (NYSE: XRX), a Connecticut-based provider of document management technology and services, has announced the preliminary settlement of the securities class action pending against it in the D. of Conn. The case, originally filed in August 2000, stems from...
Cornerstone Releases Report On Settlements
Posted on April 02, 2008Cornerstone Research has released an updated report on post-PSLRA settlements of securities class actions through December 2007. The findings include: (1) There were 111 settlements in 2007. The aggregate value of those settlements, excluding the enormous Tyco settlement, was $3...
Break In The Action
Posted on March 24, 2008There will be no new posts on The 10b-5 Daily until after March 31....
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How do I get the courts in LA to obey the court order in iowa?
wow. thats hard, I will have to ask my lawyer to friend...
The company I worked for forced me to quit instead of dealing with someone harassing me, what can I do?
Look up CONSTRUCTIVE DISCHARGE...................this looks like what happened t...
I am going through a child support hearing soon and I have a daughter with my ex wife. My new wife has 2 children whom moved to tennessee with her nearly 3 years ago and I provide 80 to 90% of care and support for them d
No you can't the judge is not gonna care if you are paying to take care of ...
Do I have a case against my former employer?
Yes you have a case against them. Walmart just lost a case for several million d...
My job requires me to drive bank deposits up to two times a day using my own vehicle and gas. Although not too far, can should I be receiving compensation? One deposit run is required daily by company policy, but the man
you should be getting a mileage comp. I own my own company and I pay my employee...

How do I get the courts in LA to obey the court order in iowa?
wow. thats hard, I will have to ask my lawyer to friend...
The company I worked for forced me to quit instead of dealing with someone harassing me, what can I do?
Look up CONSTRUCTIVE DISCHARGE...................this looks like what happened t...
I am going through a child support hearing soon and I have a daughter with my ex wife. My new wife has 2 children whom moved to tennessee with her nearly 3 years ago and I provide 80 to 90% of care and support for them d
No you can't the judge is not gonna care if you are paying to take care of ...
Do I have a case against my former employer?
Yes you have a case against them. Walmart just lost a case for several million d...
My job requires me to drive bank deposits up to two times a day using my own vehicle and gas. Although not too far, can should I be receiving compensation? One deposit run is required daily by company policy, but the man
you should be getting a mileage comp. I own my own company and I pay my employee...








