Advisen Webinar: Year End 2010 Securities Litigation Review Sponsored by KDVG
Join Advisen's 2010 Securities Litigation and the D&O market wrap-up webinar on Friday, January 21 at 11am EST. KDVG's Kevin Mattessich, Oakbridge's Kevin LaCroix, Advisen's Dave Bradford, a plaintiff attorney and an underwriter will review last year and explore what we can expect in 2011. During this session, we will be polling the audience on major litigation trends and discussing the results on a live basis.
The absence of a broad industry, economic or legislative driver has created a quieter period for the filing of traditional securities class action suits (SCAS) in 2010. While the plaintiff's bar filed numerous cases including those against for-profit educational institutions and pharmaceuticals, the overall count of new SCAS filings continues to decrease. In the meantime, the plaintiff's bar is ramping up with new sources of cases, such as "merger objection" cases alleging breach of fiduciary duties. The panel will explore these trends and discuss the implications for buyers, brokers and insurers.
The panel will also explore what we can expect for 2011. With the FDIC announcing its authorization of 109 suits against directors and officers, with claimed damages of $2.5 billion, a significant expansion of regulatory actions is taking place. Furthermore, if the high level of merger, acquisition and buyout activities continues, we can anticipate substantial numbers of merger objection cases.
Our 2010 Year End Securities Litigation Webinar is scheduled for Friday, January 21 @ 11am EST.
Register for Advisen's Webinar at: https://www1.gotomeeting.com/register/191567905
2010 a Record Year for Securities Litigation:
An Advisen Quarterly Report - 2010 Review Sponsored by KDVG
With the credit crisis subdued, and the depths of Great Recession left behind, 2010 was a year of healing, albeit at a modest GDP growth-rate and scant jobs growth. The year saw credit crisis-related suits wind down and previously white-hot filings of Madoff-related cases cooled. After a light first quarter for new securities litigation filings, many expected 2010 to be a down-year before the next litigation-laden crisis. They were wrong. Activity began to pick up in the second quarter: the Deepwater Horizon oil spill brought a spate of suits, as did Goldman Sachs' much publicized synthetic collateralized debt obligations (CDO) incident. Even without an overarching scandal or economic crisis, litigators and plaintiffs nonetheless found ample reasons for new filings beyond these short-lived events as the year progressed, and 2010 came in at a record pace of 1196 lawsuits filed, eclipsing the credit crisis years.
ABOUT KAUFMAN DOLOWICH VOLUCK & GONZO LLP (KDVG)
Kaufman Dolowich Voluck & Gonzo LLP (KDVG) is a global law firm serving the business and insurance communities in a number of practice areas. KDVG's seasoned litigators and legal practitioners place clients first, think like business people, and provide clients with viable and innovative solutions that offer the best resolution possible. Established in 1986 and celebrating its 25th Anniversary, KDVG serves a global clientele with offices in Woodbury, New York (Long Island), New York City, New Jersey, Pennsylvania, San Francisco and Los Angeles. For more information on KDVG, visit www.kdvglaw.com.
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ADVISEN'S LARGE LOSS DATA
Advisen tracks significant lawsuits filed against companies and their directors and officers in its Master Significant Case and Action database (MSCAd). MSCAd is the most complete and accurate database of such lawsuits, consisting of more than 90,000 events and over $4.5 trillion in aggregate losses. Securities cases in MSCAd represent more than 13,000 events and over $145 billion in aggregate losses.
For information or to purchase a list of the suits click here