Publications

This month’s Alert discusses the Southern District of New York’s decision in the Bear Stearns subprime litigation dismissing the derivative and ERISA suits but allowing the securities fraud action to go forward, and a First Circuit decision holding that named plaintiffs in mortgage-backed securities suits may only bring claims based on securities they actually purchased. We also address four noteworthy decisions from Delaware: a decision from the Chancery Court upholding the Airgas board’s use of a poison pill in the Air Products-Airgas takeover battle; a ruling from the Delaware Supreme Court that plaintiffs may, in certain circumstances, inspect a company’s books and records even after filing a derivative action; a Chancery Court order requiring managing director-level Rule 30(b)(6) deposition testimony in the Calix-Occam merger litigation; and the Chancery Court’s finding of prima facie evidence of collusive forum shopping in the Nighthawk Radiology-Virtual Radiologic Corp. merger litigation.