Following is an article I wrote for Law360, which gave me permission to republish it here: Among securities litigators, there is no consensus about the importance of developments in securities and corporate governance litigation.  For some, a Supreme Court decision is always supreme.  For others, a major change in a legal standard is the most critical.  For me, the key developments are those that have the greatest potential to significantly increase or decrease the frequency or severity of claims…

I am proud to announce that D&O Discourse has been nominated for The Expert Institute’s Best Legal Blog Competition. From a field of hundreds of potential nominees, D&O Discourse has received enough nominations to join one of the largest competitions for legal blog writing online today. If you would like to vote for D&O Discourse, please click here. Thanks very much for reading! Doug Greene  …

The history of securities litigation is marked by particular types of cases that come in waves: the IPO laddering cases, which involved more than 300 issuers and their underwriters; the Sarbanes-Oxley era “corporate scandal” cases, which involved massive litigation against Enron, WorldCom, Tyco, Adelphia, HealthSouth, and others; the mutual fund market timing cases; the stock options backdating cases, most of which were actually derivative cases, but many plaintiffs’ firms devoted class action resources to them; the credit…

The fifth of my “5 Wishes for Securities Litigation Defense” (April 30, 2016 post) is to move securities class action damages expert reports and discovery ahead of fact discovery.  This simple change would allow the defendants and their D&O insurers to understand the real economics of cases that survive a motion to dismiss, and allow the parties to make more informed litigation and settlement decisions. Securities class actions are often labeled “bet the…

In combination with the Delaware Court of Chancery’s decision in In re Trulia, Inc. Stockholder Litigation, 129 A.3d 884 (Del. Ch. 2016), Judge Posner’s blistering opinion In re Walgreen Company Stockholder Litigation, 2016 WL 4207962 (7th Cir. Aug. 10, 2016), may well close the door on disclosure-only settlements in shareholder challenges to mergers.  That certainly feels just.  And it may well go a long way toward discouraging meritless merger litigation.  But, as I’ve cautioned, I am concerned that we…

One of my “5 Wishes for Securities Litigation Defense” (April 30, 2016 post) is greater involvement by boards of directors in decisions concerning D&O insurance and the defense of securities litigation, including defense-counsel selection. Far too often, directors cede these critical strategic decisions to management. For most directors, securities litigation is a mysterious world ruled by sinister plaintiffs’ lawyers, powerful judges, and a unique legal framework that must be navigated by fancy defense lawyers who charge…