As part of Tuesday's historic $13 billion deal, the DOJ and JPMorgan resolved that the bank can't recoup some Washington Mutual-related settlement funds from the Federal Deposit Insurance Corporation. But that doesn't mean that JPMorgan and the FDIC are done fighting over WaMu securities.
By granting review in Halliburton v. Erica John Fund, the high court didn't necessarily set securities class actions on the path to extinction, says Stanford Law School professor Joseph Grundfest.
Halliburton's lawyers at Baker Botts have convinced the U.S. Supreme Court to review the validity of the fraud-on-the-market presumption of reliance that makes many large securities class actions possible.
Should the U.S. Supreme Court revisit one of the bedrock doctrines of securities class action litigation? That's a question the court is set to ponder Friday, when the justices weigh whether to grant certiorari in Erica P. John Fund v. Halliburton.
A judge refused on Wednesday to delay the insider trading trial of SAC Capital Advisors trader Michael Steinberg, brushing aside Steinberg's concerns over the media frenzy surrounding his employer's recent guilty plea.
The defendants—including Jon Corzine and various directors and underwriters—drew a judge's scorn by claiming there's no conceivable way they violated securities laws in MF Global's collapse.
"It is time for these organizations to be held accountable for their misdeeds," said Reed Smith's James McCarroll.
A Delaware judge rejected an unusual effort by LAMPERS and its lawyers at Grant & Eisenhofer to inspect the chocolate giant's books and records for evidence that it turned a blind eye to African child labor.
The U.S. Court of Appeals for the Second Circuit on Friday reversed the dismissal of an investor lawsuit alleging PricewaterhouseCoopers ignored red flags that disgraced hedge fund Lipper Holdings inflated the value of its portfolio. Wolf Haldenstein represented the investors, while Orrick advised PwC.