In the News Today – January 6, 2014
The American Lawyer looks forward to securities litigation in the new year, saying that there will likely be fewer settlements related to the financial crisis since many of these cases have moved beyond the motion to dismiss stage.
Looking back, the number of securities class action filings fell in 2013 compared to 2012, although it is still well below the historical average. Kevin LaCroix at the D & O Diary cautions to take the numbers with a grain of salt, given that there are a quarter fewer publicly traded companies than there were a decade ago.
Citigroup will pay $250 million to settle a mortgage-related lawsuit from Fannie Mae and Freddie Mac. The litigation was resolved in 2013, but the terms weren’t disclosed until now. Reuters
The Idaho Business Review quotes ILR president Lisa Rickard on the Ten Most Ridiculous Lawsuits of 2013. The most ridiculous suit, an inmate suing a number of breweries for not warning him of the dangers of alcohol, was based in Idaho.
The FCPA Professor has a recap of SEC enforcement of the Foreign Corrupt Practices Act in 2013.
The Chief Justice of the West Virginia State Supreme Court says the court’s abolishing the open and obvious doctrine will have a “dramatic effect on the way in which premises liability cases proceed in the state.” West Virginia Record
