Searching Content indexed under Finance and Banking by Stanley Parzen ordered by Published Date Descending.
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No Showing of Loss or Materiality Needed at Class Certification Stage According to United States Court of Appeals for the Seventh Circuit
The United States Court of Appeals for the Seventh Circuit has issued an opinion that relieves plaintiffs in securities litigation from making any showing of loss or materiality at the class certification stage.
United States
2 Sep 2010
Potential Actions Against an Auditor When a Bank Fails
The US Federal Deposit Insurance Corporation (FDIC) estimates that by the end of 2010, more than 300 banks will have failed, and that the cost of resolving these failures may reach $100 billion over the next four years.
United States
29 Jul 2010
Subjective Falsity Required For Section 11 and 12 Claims Based On Goodwill and Loan Loss Reserve Valuations
On May 10, 2010, the US District Court for the Southern District of New York held that accounting statements of goodwill and loan loss reserves are statements of opinion, and that they create liability under Sections 11 and 12 of the Securities Act only when a defendant did not actually hold the challenged opinion at the time it was made.
United States
14 May 2010
Claims Against Accounting Firms – Implications of Merck & Co. v. Reynolds
On April 27, 2010, the US Supreme Court issued a decision that effectively tolled the statute of limitations applicable to securities fraud litigation until plaintiffs discover or reasonably should have discovered sufficient evidence of scienter to plead a fraud claim in conformity with the Private Securities Litigation Reform Act (PSLRA), i.e., fraudulent intent.
United States
7 May 2010
Parties that Settle with the US SEC May Face Greater Collateral Legal Risk
Two recent developments suggest an increased collateral legal risk for persons and entities that enter into settlements with the US Securities and Exchange Commission (SEC).
United States
22 Apr 2010
Jury Finds BDO International Not Liable For Judgment Against BDO Seidman LLP
BDO International, B.V. (BDO International) was ruled not liable for a $170 million compensatory damages award against its US Member Firm, BDO Seidman LLP.
United States
23 Sep 2009
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