In 2017, federal securities class actions were filed at a rapid clip, averaging more than one per day - a level not seen in nearly 20 years according to survey data. It was the third year of growth and a 44% increase over 2016. Only a small subset (25 or 5.7%) of the record-setting 432 federal securities class actions filed last year were claims filed under Section 11 of the federal Securities Act of 1933 (1933 Act), which is at the heart of the U.S. Supreme Court’s decision in Cyan Inc. v. Beaver County Employees Retirement Fund. The 1933 Act requires companies offering securities to the ...
Last week, the U.S. Securities and Exchange Commission (“SEC”) announced that it expects to pay the largest whistleblower reward pursuant to Section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) that the agency has paid to date – “more than $30 million” to a foreign whistleblower. The SEC’s announcement of this record award came shortly after Attorney General Holder reportedly urged Congress to increase the $1.6 million limit on whistleblower awards for information related to financial crimes provided for under the ...
About MVA Litigation Blog
Companies are operating in an increasingly globalized and regulated business environment, facing ever-changing and complicated litigation and regulatory challenges. The Moore & Van Allen Litigation Blog provides cutting-edge information regarding developments in federal, North Carolina State, and international litigation, as well as in arbitration, regulatory enforcement, and related business practices.
MVA Litigation Blog Updates
- Is There a Fix for COVID Business Interruption and Event Cancellations Losses on the Horizon?
- Pandemic Risk Insurance Act of 2020 Introduced in Congress – A Federal Backstop for Business Interruption and Event Cancellation Losses
- North Carolina Considering COVID-19 Workers’ Compensation Expansion for Frontline and Essential Workers
- COVID-19 Business Interruption Insurance Litigation Proliferates