A new report from Funston Advisory Services examines transparency and disclosure across 67 different state public retirement funds and concludes that “what separates the leaders is not resources or statute,” but rather a “deliberate decision, made by a board, about what to disclose and how.”
Next Wednesday, May 20, Lieff Cabraser partner Nicholas Diamand will take part in the ISS SCAS webinar, “Risk Mitigation in Global Securities Cases.” The program will feature securities litigation experts from the U.S. and U.K. discussing the risks and considerations investors may face when participating in securities actions outside North America.
As reported in Bloomberg News (subscription required), New York’s city and state pension funds, along with major institutional investors including the Chicago Teachers’ Pension Fund and Denver Employees Retirement Plan, are urging the U.S. Securities and Exchange Commission (SEC) to reverse a recent policy permitting companies to push shareholder fraud claims into private arbitration.
Corporate fraud is a pervasive issue with far-reaching consequences on individuals, businesses, and the economy as a whole. In the face of financial misconduct, plaintiff lawyers play a critical role in seeking restitution for victims and holding wrongdoers accountable.
Vice Chancellor Zurn of the Delaware Chancery Court has entered an Order and Final Judgment approving a $237.5 million settlement that will end stockholders’ derivative litigation relating to Boeing’s oversight of the 737 MAX’s design and development. Co-Lead Plaintiffs the New York State Comptroller Thomas P. DiNapoli, as trustee of the New York State Common
Revelations of the unlawful conduct in July 2020 and thereafter caused the value of the funds’ investments in FirstEnergy stock to decline significantly On December 17, 2021, Lieff Cabaser filed a lawsuit on behalf of certain MFS Funds against FirstEnergy Corp. and certain of FirstEnergy’s senior officers and directors for violations of the Securities Act
As reported by Law360, U.S. District Judge Gonzalo P. Curiel has granted certification to a class of investors represented by Lieff Cabraser who sued BofI federal bank in 2015 for alleged securities fraud which led to the company’s stock plummeting 47%. Investors in BofI, now known as Axos Bank, asserted that confidential witnesses would testify
On March 3, 2021, Lieff Cabraser and Schnapper-Casteras PLLC filed an amicus brief in the Second Circuit Court of Appeals on behalf of two former U.S. Securities and Exchange Commission Chairs, four former SEC Commissioners, and numerous other former SEC officials, all voicing support of a class of investors fighting to remain certified in a
The Ninth Circuit Court of Appeals has reversed the District Court’s dismissal of the securities fraud class action lawsuit against BofI Federal Bank after finding that a related whistleblower suit and accounts by numerous other former employees, adequately pleaded fraud and scienter on the part of the Bank and its CEO.
U.S. District Judge Jon S. Tigar of the Northern District of California has issued an order granting final approval to a $320 million settlement that will end shareholders’ derivative litigation relating to Wells Fargo’s unfair sales practices and its widespread fake accounts scandal. Plaintiffs in the suit, including the Fire & Police Pension Association of