Corporate Defense and Disputes

Important developments in U.S. securities law, white collar criminal defense, regulatory enforcement and other emerging issues impacting financial services institutions, publicly traded companies and private investment funds

Tag Archives: Private Securities Litigation Reform Act of 1995

SEC Proposes Extensive New Rules Applicable to SPACs and de-SPAC Transactions

By Julia Alonzo, Corey I. Rogoff, Steven R. Burwell, Peter Castellon, Michael Choate, Steven L. Lichtenfeld, Ben Orlanski, Louis Rambo, Frank Zarb and Simon J. Wood on Posted in SEC Enforcement, Securities Litigation, SPAC
This week, our corporate colleagues published a handy guide to the SEC’s new proposed rules on SPACs. Of particular note to securities watchers should be potential increases in litigation stemming from changes to the definition of “blank check company” for the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). The SEC has long given … Continue Reading

Delaware Supreme Court Rules That Corporate Charters Can Require Litigation of Federal Securities Act Claims in Federal Court

By Jonathan Richman on Posted in Corporate Governance, SEC Enforcement, Securities Law
The Delaware Supreme Court ruled today that Delaware corporations can adopt charter provisions requiring that actions under the federal Securities Act of 1933 be filed in a federal court. The decision in Salzberg v. Sciabacucchi gives Delaware corporations a way to avoid state-court or multi-forum litigation of Securities Act claims by channeling all such cases into … Continue Reading

Supreme Court Prohibits Stacking of Successive Class Actions Beyond Limitations Period

By Jonathan Richman on Posted in Class Settlement, SEC Enforcement, Securities Law
The Supreme Court ruled today that judicially created principles that toll statutes of limitations for class members in timely filed class actions apply only to subsequently filed individual actions, not to follow-on class actions filed outside the limitations period. The decision in China Agritech, Inc. v. Resh (No. 17-432) thus eliminates the specter of a potentially … Continue Reading
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