Corporate
Jan. 5, 2007
Hope for Corporations
FOCUS COLUMN - By William F. Sullivan and Johanna S. Wilson - A recent decision by the 2nd Circuit in a massive securities class action may set a new and more restrictive standard for certifying such suits.
By William F. Sullivan and Johanna S. Wilson
Multibillion-dollar settlements have become an unfortunate reality post-Enron. Totals in the Enron-related securities litigation are $7 billion and counting. A recent 2nd Circuit decision, however, may give defendants additional weapons to defeat class certification and stem this rising tide. The court ruled that district courts shoul...
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