Today, my colleague Kristin Beneski and I were honored to file a US Supreme Court amicus brief on behalf of the Washington Legal Foundation (“WLF”) in Cyan, Inc. v. Beaver County Employees Retirement Fund. In Cyan, the Supreme Court will
Doug Greene
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US Supreme Court Securities-Fraud Jurisprudence: An Emerging New Direction?
How will the 2017 arrival of Justice Neil Gorsuch influence the US Supreme Court’s securities-fraud jurisprudence?
My colleague Kristin Beneski and I discuss this question in a Washington Legal Foundation Working Paper titled “US Supreme Court Securities-Fraud Jurisprudence: An Emerging…
Mandatory Arbitration of Securities Disclosure Disputes Is a Bad Idea—For Defendants
SEC Commissioner Michael Piwowar recently said that the SEC is open to allowing companies that are going public to provide for mandatory shareholder arbitration in their corporate charters. Piwowar’s remarks have prompted a firestorm of discussion of the issue of…
From Sea to Shining Sea: The Ninth Circuit Aligns with the Second Circuit in Affirming Omnicare‘s Benefits for Defendants
In a matter of first impression in the Ninth Circuit, the court applied the Supreme Court’s Omnicare standard for pleading the falsity of a statement of opinion in City of Dearborn Heights Act 345 Police & Fire Retirement System v.…
Wrap-up: “Who is Winning the Securities Class Action War—Plaintiffs or Defendants?”
I am grateful for the enthusiastic feedback I’ve received on my three-part blog post “Who is Winning the Securities Class Action War—Plaintiffs or Defendants?” I especially appreciate the time Kevin LaCroix took to write a post addressing my…
Who Is Winning the Securities Class Action War—Plaintiffs or Defendants? (Part III)
This is the third of a three-part post that analyzes why plaintiffs are winning the securities class action war and what defendants can do about it.
At stake is a system of securities litigation that sets up one side or…
Who is Winning the Securities Class Action War—Plaintiffs or Defendants? (Part II)
This is the second of a three-part post evaluating who is winning the securities class action war.
Part I explained that this war is not just a scorecard of wins and losses, but rather a fight for strategic positioning—about achieving…
Who is Winning the Securities Class Action War—Plaintiffs or Defendants?
The securities class action war is about far more than the height of the pleading hurdles plaintiffs must clear, the scorecard of motions to dismiss won and lost, or median settlement amounts. It is a fight for strategic positioning—about achieving…
Myths & Misconceptions of Biotech Securities Claims: An Analysis of Motion to Dismiss Results from 2005-2016
By Doug Greene, Genevieve York-Erwin, Michael Tomasulo
I. Introduction
Small, development stage biotech companies are widely considered to be attractive targets for securities actions given the inherent risks of the industry and the volatility of their stock prices. …
Be Careful What You Wish For, Part II: Would Companies Be Better Off Without the Fraud-on-the-Market Doctrine?
The villain in the fight against securities class actions is the fraud-on-the-market presumption of reliance established by the U.S. Supreme Court in 1988 in Basic Inc. v. Levinson, 485 U.S. 224 (1988). Without Basic, the thinking goes, a plaintiff could not…