Publications

This month’s edition of the Alert addresses: the D.C. Circuit’s decision vacating the new proxy access rule promulgated by the Securities & Exchange Commission; the Second Circuit’s decision holding that Madoff’s customers may only seek recovery of their net investments under the Securities Investor Protection Act, not the “profits” reflected on their final account statements; and two related decisions, one from the Second Circuit and one from the Sixth Circuit, affirming the dismissal of auction rate securities suits.

This Alert also discusses three decisions from the Southern District of New York: one dismissing in part the Lehman securities fraud action; another dismissing in part the Bank of America/Merrill Lynch securities fraud action; and a third reiterating the “irrevocable liability” test for  determining when a purchase or sale is made in the United States for Morrison purposes.

Finally, this Alert addresses recent guidance from the Delaware Chancery Court on fee negotiations and applications for fee awards in multi-forum litigation settlements.