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November 19, 2013

In the News Today – November 19, 2013

A new report looks at plaintiffs who opt-out of securities class action settlements in order to pursue their own cases, which could take on added significance with the Supreme Court’s decision to review the fraud on the market theory. D & O Diary

Apple is asking a federal district court to dismiss consumer antitrust claims brought by the attorneys general from 31 states and the District of Columbia, arguing that, since the states didn’t suffer any damages, the AGs are instead trying to recover for injuries suffered by others. Apple says that isn’t allowed because of the precedent set by the Supreme Court in Hollingsworth, where the Chief Justice wrote “we have repeatedly held that such a ‘generalized grievance,’ no matter how sincere, is insufficient to confer standing.” American Lawyer

A new appointee to the Southeast Louisiana Flood Protection Authority-East will ask the organization to suspend its lawsuit against 97 energy companies. New Orleans Times-Picayune

JPMorgan and the Department of Justice have reportedly reached a $13 billion settlement. The deal could be announced as soon as Tuesday. Wall Street Journal

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