News

Securities class action filings remained somewhat steady in 2011, largely due to a surge in two types of lawsuits - those filed against Chinese companies listed on U.S. stock exchanges and those linked to mergers and acquisitions, according to a pair of reports at year's end.

A federal judge has denied, in part, defendants' motions to dismiss a lawsuit accusing General Electric of misleading investors about certain aspects of its financial condition during the financial meltdown of 2008 and 2009, including its access to commercial paper markets and exposure to risky subprime loans.

A San Francisco judge ruled that California's largest public pension fund can pursue rating agencies Moody's and Standard & Poor's over $1 billion in investment losses, rejecting the rating agencies' attempt to characterize the lawsuit as a spurious attack on free speech. 

Joe Tabacco, managing partner of the firm's San Francisco office, was recently singled out by a top defense attorney for exemplifying "the finest tradition of the trial bar."

American Lawyer recently turned to Berman DeValerio partner Todd Seaver for his views on the effects of the newly enacted Dodd-Frank Wall Street Reform and Consumer Protection Act on credit rating agencies.