Despite unprecedented levels of privacy breaches and ongoing debate, there is still no statutory regime or binding common law in Australia that establishes a cause of action for breach of privacy.  However, the upcoming introduction of the mandatory data breach notification law, the Privacy Amendment (Notifiable Data Breaches) Act 2017 – which takes effect on 22 February 2018 – will undoubtedly cast a spotlight on data breaches that affect an individual’s privacy. View Full Post
Guest Post: Second Circuit Holds Defendants’ Fraud-on-the-Market Presumption Rebuttal Need Not Be Conclusive In the following guest post, attorneys from the Paul Weiss law firm take a look at the Second Circuit’s January 12, 2018 decision in Arkansas Teacher Retirement System v. Goldman Sachs Group, Inc. (here), in which the appellate court vacated the district court’s certification of a shareholder class in the securities class action lawsuit arising out of the investment company’s involvement in the creation and marketing of the infamous “built-to-fail” Abacus CDO. View Full Post
The fine people who wrote the Federal Rules of Civil Procedure (and their state equivalents) certainly had a sense of humor. FRCP 1, for example, says: “These rules govern the procedure in all civil actions and proceedings in the United States district courts…They should be construed, administered, and employed by the court and the parties to secure the just, speedy, and inexpensive determination of every action and proceeding.” (Emphasis mine.) If you’ve had the pleasure of experiencing our court system, “just,” “speedy” and “inexpensive” may not be the first three adjectives that pop into your mind.   View Full Post
In a long-running employment class action in California, a California Court of Appeal recently addressed once again the use of surveys of class members. The case was the subject of a prior California Supreme Court decision (see my June 2014 blog post), which provided guidance on the use of statistical evidence by plaintiffs to attempt to prove their claims on the merits in class actions, the need for a trial plan, and the need to allow the defendant to prove its affirmative defenses. View Full Post
Jock McCulloch (and colleagues) wrote multiple books attacking companies that manufactured and/or sold asbestos-containing products in Australia or South Africa.  They include Asbestos – Its Human Cost (1986),  Asbestos Blues: Labour, Capital, Physicians & The State in South Africa (2002), and Defending the Indefensible (2008).    View Full Post
In Saturday’s WSJ, Jason Zweig discussed the unrealistic investment assumptions in the nation’s public pensions, which includes Mississippi’s PERS.  The opening: With U.S. stocks at all-time highs, it’s more important than ever that investors be brutally realistic about future returns. Some of the most purportedly sophisticated investors in the world, the managers of giant pension funds for state and local government employees, might not have absorbed that lesson yet. View Full Post
Reflections on GE’s Massive Run-Off Insurance-Related Charge In his recent one-volume history of American capitalism, “Americana,” author Bhu Srivnivasan recounts the rise of many of the country’s large corporations in the late 19th century, including the long-standing U.S. industry stalwart, General Electric. GE was formed when Wall Street bankers engineered the merger of two fledgling electrical services providers, including the company formed by Thomas Edison, Edison Electric. View Full Post