Case
Basic, Inc. v. Levinson
78 published works
Securities Law Prof Blog
Alaska Air Shareholder Proposes Waiver of FOM Presumption
Prof. Adam Pritchard (University of Michigan) reports that a shareholder in Alaska Air has submitted a proposal to the company under Rule 14a-8 to amend Alaska Air’s certificate of incorporation…
Corporate & Securities Law Blog
Second Circuit Applies Fraud-On-The-Market Doctrine To Research Analyst Reports
In Millowitz v. Citigroup Global Markets, Inc., 2008 WL 4426412 (2d Cir. Sept. 30, 2008), the United States Court of Appeals for the Second Circuit held that the fraud-on-the-market doctrine…
Drug & Device Law
The End of Securities Fraud Class Actions?
By Bexis
This isn't a "drug and device law" story. But it could be the biggest development in corporate securities law since Marty Lipton invented the "poison pill," and it appears to…
Securities Law Prof Blog
Fisch on Causation in Federal Securities Fraud
Cause for Concern: Causation and Federal Securities Fraud, by Jill E. Fisch, University of Pennsylvania Law School, was recently posted on SSRN. Here is the abstract:The Supreme Court's decision in…
Securities Law Prof Blog
Pritchard on Stoneridge
Stoneridge Investment Partners, LLC v. Scientific-Atlanta, Inc.: The Political Economy of Securities Class Action Reform, by Adam C. Pritchard, University of Michigan Law School, was recently posted on SSRN. Here…
Securities Law Prof Blog
Langevoort on Fraud on the Market
Basic at Twenty: Rethinking Fraud-on-The-Market, by DONALD C. LANGEVOORT, Georgetown University Law Center, was recently posted on SSRN. Here is the abstract: Twenty years after being decided, Basic Inc. v.…
The Contingency
Bye-Bye Basic v. Levinson: Fifth Circuit Requires Loss Causation Proof for Securities Class Certification
A 2-1 panel of the Fifth Circuit today bludgeoned a securities fraud class action -- probably to death. The court held that plaintiffs seeking class certification in a securities fraud…
The Contingency
No Class II: Fifth Circuit Decertifies Case Against Enron’s Investment Bankers
Bill Lerach vowed a swift appealto the U.S. Supreme Court. The Fifth Circuit's decertification order hinges on its conclusion that neither the Affiliated Ute nor the Basic, Inc. v. Levinson…