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William "Bill" Shannon Lerach (born March 14, 1946, [1] Ohio River Valley, [2] Midwestern United States) is an American disbarred lawyer who specialized in private Securities Class Action lawsuits. The $7.12 billion he obtained as the lead plaintiff's attorney in the case against Enron is currently the largest sum ever recovered in a group of ...
The Private Securities Litigation Reform Act of 1995, Pub. L. 104–67 (text), 109 Stat. 737 (codified as amended in scattered sections of 15 U.S.C.) ("PSLRA") implemented several substantive changes in the United States that have affected certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation, and awards fees ...
The Private Securities Litigation Reform Act (PSLRA) of 1995 encouraged institutional investors to participate as lead plaintiffs in securities class actions "to shift the balance of power between shareholders and class action lawyers by allowing investors with the most substantial losses to take control over" the case. [3]
Nvidia, the AI-chip giant, petitioned the nation's highest court after a lower court permitted a 2018 class action lawsuit to move ahead.
Lawsuit Subject of lawsuit Court of decision Year of decision Alperin v. Vatican Bank: conversion, unjust enrichment, restitution, the right to an accounting, human rights violations and violations of international law: U.S. Court of Appeals for the Ninth Circuit: In re American Realty Capital Properties, Inc. Litigation
The lawyers who successfully argued that a massive pay package for Tesla CEO Elon Musk was illegal and should be voided have asked the presiding judge to award them company stock worth $5.6 ...
Stoneridge Investment Partners v. Scientific-Atlanta, 552 U.S. 148 (2008), was a decision by the United States Supreme Court pertaining to the scope of liability of secondary actors, such as lawyers and accountants, for securities fraud under the Securities Exchange Act of 1934.
Some notable decisions include the 1988 decision by the Supreme Court of the United States in Basic Inc. v. Levinson, which allowed class action lawsuits under SEC Rule 10b-5 and the "fraud-on-the-market" theory, which resulted in an increase in securities class actions. The Private Securities Litigation Reform Act and the state model law ...