Read items of interest about events, trends, and players in the class-action world.
CalPERS Case Clears Important Legal Hurdle
A groundbreaking lawsuit by CalPERS against the nation’s three major credit rating agencies cleared a significant legal hurdle last month when a judge ruled to keep it under California state jurisdiction.
Appeals Court: Plaintiff Should Choose Lead Counsel
A federal appeals court has affirmed the right of lead plaintiffs to select their own attorneys in a securities class action, overruling a district judge who had taken that important decision into his own hands.
Judge Rejects Free Speech Defense by Credit Ratings Firms
Weakening a defense long used by credit rating agencies in their attempts to evade legal liability, a federal judge ruled that the firms’ evaluations of certain risky structured investments, or SIVs, did not merit protection as free speech.
Class actions led by institutions settle for $104.2 million, on average – 10 times more than individual-led cases.
-- "Institutional Monitoring for Shareholder Litigation", forthcoming in the Journal of Financial Economics, C.S. Agnes Cheng
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International Spotlight Shines on Rating Agencies Suit
A lawsuit filed by Berman DeValerio against the major credit rating agencies has drawn international media coverage as far away as India and New Zealand.
Firm Files Lawsuit Against Parent of Hedge Fund Invested in Madoff
Massachusetts Mutual Life Insurance Co. failed in its responsibility to protect clients from investing their money with Bernard L. Madoff Investment Securities, a Berman DeValerio attorney told The Boston Globe.
