Law.com Subscribers SAVE 30%
Call 855-808-4530 or email GroupSales@alm.com to receive your discount on a new subscription.
Supreme Court Hears Challenge to Fraud-on-the-Market Presumption in Securities Fraud Litigation
When the U.S. Supreme Court 25 years ago decided Basic, Inc. v. Levinson, 485 U.S. 224 (1988), it adopted a legal theory that commentators would describe as revolutionizing securities law in the United States. By accepting the “fraud-on-the-market” theory, the Basic Court made it much easier for plaintiffs to get their cases certified as class actions, increasing the potential exposure of corporations and their officers and directors.
This month, the Court will hear argument in a case that seeks to overthrow Basic's revolutionary regime. The Court last year agreed to hear the appeal of the corporate defendants in Halliburton v. Erica P. John Fund; they directly put to the Court the question of whether Basic and the fraud-on-the-market theory it adopted should be overruled.
If the Court ultimately decides to overturn Basic , it will likely have a significant impact on securities fraud class actions, depriving plaintiffs' lawyers of a critical doctrinal weapon and giving corporate defendants far greater leverage in settlement negotiations.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at customercare@alm.com or 877-256-2473
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?
The Benefits of Blockchain for e-Discovery and Data Preservation
As businesses across various industries increasingly adopt blockchain, it will become a critical source of discoverable electronically stored information. The potential benefits of blockchain for e-discovery and data preservation are substantial, making it an area of growing interest and importance.