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August 17, 2015

In the News Today – August 17, 2015

In a case that stems from the New York Department of Financial Services’ (NYDFS) push to force one of Promontory Financial Group’s client banks to waive attorney-client privilege, Promontory is now challenging the NYDFS’ move to “block the consulting firm from advising New York-based banks in some cases.” (Wall Street Journal)

A piece pointing to a growing body of research that shows “the ultimate cost of securities fraud litigation is born by shareholders” cites a 2005 ILR study. That paper, “The Unintended Consequences of Securities Litigation,” shows that “securities fraud-related litigation destroys on average 3.5% of the equity value of a company.” (Lexology)

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