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.
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
Lieff Cabraser partner Daniel P. Chiplock, along with Tyler Gellasch of the Healthy Markets Association and Andy Green of the Center for American Progress, wrote a piece published by the Harvard Law School Forum on Corporate Governance in support of the Securities & Exchange Commission’s continued ability to compel disgorgement as a remedy in financial
Lieff Cabraser partner Michael Miarmi will be presenting a webinar entitled “Delaware Law Update: What Investors Need to Know” for the Council of Institutional Investors on Wednesday, June 26, 2019 from 3:30-4:30pm. The webinar will feature a panel discussion that explores the critical role Delaware law plays in shaping business, both in the United States
A California federal judge has granted preliminary approval to a proposed $320 million settlement that would end shareholders’ derivative litigation relating to Wells Fargo’s fake accounts scandal. Plaintiffs in the suit, including the Fire & Police Pension Association of Colorado and the City of Birmingham Retirement and Relief System allege that since at least 2011, the