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Supreme Court to Revisit the Fraud-on-the-Market Presumption of Reliance in Securities Fraud Case

by Adam J. Levitt and Michael J. Barry
In November 2013, the United States Supreme Court agreed to hear a corporate defendant’s sweeping challenge to the fraud-on-the-market presumption of reliance in securities fraud cases. Reliance is a necessary element of a securities fraud claim… Read Article
(first published in AAJ Class Action Newsletter, Winter 2014)

Fees Obliterate Managed Futures Fund Profits

by Adam J. Levitt and Kate D. Tomassi
Looking for a profitable fund to invest in? You may find one if you look to a managed futures fund. You might be surprised, however, to later find that despite your chosen fund showing significant gains, you’ve reaped little to no profit… Read Article

Does the False Claims Act Have Teeth?

by Reuben A. Guttman
In 2012, citizens reporting fraud and bringing lawsuits under the False Claims Act spurred the U.S. Treasury’s recovery of approximately $5 billion. Yet, is the statute have a real deterrent effect that will change the behavior of corporate culprits?… Read Article

Multidistrict Litigation Practice: The Function and Shifting Focus of the JPML in Class Action and Other “Bet the Company” Litigation

by Adam J. Levitt

One of the consequences of the 20th Century, post-industrial expansion of manufacturing, technology, and commerce across the United States (and abroad) is the increasing procedural and substantive complexity of litigation arising from that expansion. Whether through mass production, federal legislation, or otherwise, now, when torts arise from defective products or other improper conduct, the problem is rarely localized or individual in scope… Find the Full Article here

Disgorgement Of Compensation Paid To Directors During The Time They Were Grossly Negligent: An Available But Seldom Used Remedy

by John C. Kairis
A bedrock principle of Delaware corporate law is that directors of Delaware corporations are charged with a duty of care, which means that they must consider all material information reasonably available to them and exercise reasonable care and skill in dealing with the affairs of the corporation… Read Article