Verifiable Independence Through Proactive and Uniform Application of Event Study Analysis
May 2, 2023
SAR, a data analytics company specialized in U.S. public company risk management solutions, is pleased to announce the closing of a capital investment in the Company led by institutional investor, Anthem Management ("Anthem").
Bloomberg | SAR Closes on Capital Raise and Formalizes Board of Directors
January 10, 2023
Law360 (January 10, 2023, 5:13 PM EST) -- In 2023, as the Federal Reserve's strict anti-inflationary regime continues to shape America's capital markets, a high likelihood of an increase in frequency of securities class actions exists as global economic...
Law360 | Securities Class Actions May Spur IPO Investigations In 2023
October 10, 2022
The decline of record market capitalizations, compounded by high litigation and securities class action exposure, leaves directors and officers insurance carriers and issuers facing economic contraction as companies grapple with the institutionalization...
Law360 | D&O Insurer Challenges Amid Market, Economic Turbulence
July 8, 2022
Innovation in predictive data analytics of securities litigation enhances data-driven underwriting to deliver better risk transfer solutions to mitigate loss severity from adverse corporate events affecting issuers, directors, and officers.
PLUS Blog | Predictive Analytics of SCA Loss Severity - A Competitive Advantage in an Event-Driven Litigation Environment
April 6, 2022
Recent Ninth Circuit rulings show that Twitter is ill-suited for validating potential class action liability, as not only do corporate disclosure standards for social media disqualify the platform, but also potential claims of fraud on the market don't...
Law360 | Why Tweets May Not Validate Securities Class Action Liability
January 10, 2022
In 2021, directors and officers were exposed to potential liability on about 21% of private securities fraud suits that alleged fraud on the market based on research funded by activist short-sellers and their backers who aim to drive down the stock price...
Law360 | More Securities Class Actions May Rely on Short-Seller Data
November 3, 2021
Long-term profitability in the public company directors and officers ("D&O") industry will depend on effective securities class action ("SCA") loss mitigation due to three forces that are shaping the contours of the market. First, D&O profitability driven by...
PLUS Blog | SCA Loss Mitigation is Critical for D&O Profitability
July 9, 2021
Private enforcement of the federal securities laws is mission-critical to sustain the transparency of America's capital markets and uphold the rules of engagement between public corporations and shareholders that trust directors and officers...
Law360 | Q2 Stock Drop Stats Buoy High Court's Goldman Ruling
April 9, 2021
In anticipation of a U.S. Supreme Court decision in Goldman Sachs Group, Inc. v. Arkansas Retirement System, tempered filing frequency and lower severity of fraud-on-the-market claims against directors, officers, and their respective U.S.-listed corporations led to...
Law360 | 3 Reasons Securities Fraud Litigation Exposure Fell in Q1
January 8, 2021
In 2018, Columbia Law School professor John C. Coffee Jr. indicated that the "scope of 'event-driven' litigation could expand rapidly," which it has, and led to successful recoveries for public equity investors in BP PLC in 2017, Petrobras in 2018...
Law360 | Limiting The Severity Of Deficient Securities Fraud Claims
December 3, 2020
On September 25, 2019 District Judge Honorable Loretta A. Preska of the Southern District of New York dismissed the securities class action against the U.S.-listed Chinese company TAL Education Group because "there is no material...
The D&O Diary | Guest Post: Second Circuit Ruling Exposes D&Os to Exchange Act Claims Based on Biased Short-Seller Research
August 24, 2020
Two factors in the securities class action arena are exacerbating the potential for conflicts of interest: the use of and reliance on activist short-seller reports as a basis to initiate securities class action claims, and privileged third-party litigation...
Law360 - Opinion | Funder, Short-Seller Use Undermines Securities
June 19, 2020
In their working legal paper, law professors Jill E. Fisch and Jonah B. Gelbach posit: "Federal judges are poorly positioned to weigh the policy considerations reflected by the tradeoff between confidence level and power" in single-firm event...
Law360 - Opinion | Fed. Courts Are Best Regulator Of Securities
April 10, 2020
Transparency is paramount in the securities class action arena. Directors and officers, as well as institutional investors, rely on the rule of law and the duty of candor of their lawyers to seek and attain justice through the judiciary process...
Law360 | First-Quarter Securities Class Actions Respond To Outbreak
October 24, 2019
The class period interval in securities class actions that allege violations of the federal securities laws under Section 10(b) and 20(a) of the Securities Exchange Act of 1934 is the second most fundamental determinant of the magnitude...
Law360 - Opinion | Securities Class Period Selection Deserves
July 24, 2019
The Supreme Court decision in Cyan Inc. v. Beaver County Employees Retirement Fund "swings the doors of state courts wide open to actions asserting '33 Act claims against issuers, officers, directors, underwriters, and others involved in...
Law360 - Opinion | Time To Resolve Post-Cyan Securities Class
June 20, 2019
Since the event-driven securities class action lawsuit against PG&E Corporation was filed one year ago, plaintiffs counsel have filed 211 securities class action complaints that allege violations of the federal securities laws under Section 10(b) and...
Law360 | An Analytical Approach To Defending Securities Class
February 21, 2019
Crude measures of exposure to securities class actions that allege violations of Section 10(b) and 20(a) of the Securities Exchange Act of 1934 take the "change in target companies' market capitalization over the class period."...
Law360 | Exposure To Market Fraud Suits Is Not A Major Risk