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Verifiable Independence Through Proactive and Uniform Application of Event Study Analysis

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Publications

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
Class Actions

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
Class Actions

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
Greater Scrutiny

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
Action Confusion

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
Action Claims

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

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SCA Exposure Reports

3Q 2022

Securities Class Action

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SCA Rule 10b-5 Exposure Report

October 10, 2022

2Q 2022

Securities Class Action

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SCA Rule 10b-5 Exposure Report

July 8, 2022

1Q 2022

Securities Class Action

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SCA Rule 10b-5 Exposure Report

April 8, 2022

4Q 2021

Securities Class Action

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SCA Rule 10b-5 Exposure Report

January 10, 2022

3Q 2021

Securities Class Action

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SCA Rule 10b-5 Exposure Report

October 8, 2021

2Q 2021

Securities Class Action

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SCA Rule 10b-5 Exposure Report

July 9, 2021

1Q 2021

Securities Class Action

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SCA Rule 10b-5 Exposure Report

April 9, 2021

4Q 2020

Securities Class Action

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SCA Rule 10b-5 Exposure Report

January 8, 2021

3Q 2020

Securities Class Action

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SCA Rule 10b-5 Exposure Report

October 9, 2020

2Q 2020

Securities Class Action

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SCA Rule 10b-5 Exposure Report

July 10, 2020

1Q 2020

Securities Class Action

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SCA Rule 10b-5 Exposure Report

April 10, 2020

4Q 2019

Securities Class Action

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SCA Rule 10b-5 Exposure Report

January 10, 2020

3Q 2019

Securities Class Action

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SCA Rule 10b-5 Exposure Report

October 10, 2019

2Q 2019

Securities Class Action

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SCA Rule 10b-5 Exposure Report

July 10, 2019

1Q 2019

Securities Class Action

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SCA Rule 10b-5 Exposure Report

April 10, 2019

3Q 4Q 18

Securities Class Action

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SCA Rule 10b-5 Exposure Report

February 21, 2019