A colleague of mine often says that the only limit to fraud is man’s imagination. Fraud, especially the kind that is hard to detect, is not limited by a certain set of parameters or contained by borders. Attorneys striving to … Continue reading
The securities fraud defense bar had quite a bad day at the Supreme Court this week. By a 6-3 decision in Amgen, the Court rejected the defendants’ newfangled theory that would have required securities fraud plaintiffs to prove materiality to … Continue reading
Everyone agrees that to win a securities fraud claim at trial, shareholders must prove that defendants’ false statements had a material effect on the company’s stock prices. Materiality is an element of this claim for the jury to resolve on … Continue reading
The SEC announced Tuesday that it will pay its first award under a new whistleblower program created under the 2010 Dodd-Frank Act. The SEC will pay the whistleblower $50,000 for providing vital information that helped stop a multi-million dollar fraud. The … Continue reading
Intimidation has long been a hallmark of organized crime. We all know the stereotype—big, burly, trench coat-wearing, baton-wielding men showing up at the doorstep demanding money—or else. Inducing fear, these henchmen force their victims to pay up. While this type … Continue reading
Class actions are about fairness and efficiency. While some corporate defendants act as if class actions are beasts from the Book of Revelation, class actions simply involve a person representing the interests of a larger group of people having common … Continue reading
To clarify from the outset, zombie funds aren’t the antagonists of a bad Hollywood movie about the living dead overtaking Wall Street. In reality, they are lifeless funds that can feed on investors’ returns. Zombie funds are funds involving money managers … Continue reading
A power shift is underway in corporate America. Emboldened by the Dodd–Frank Wall Street Reform and Consumer Protection Act, shareholders nationwide in 2012 are making their voices heard in boardrooms demanding greater disclosures in corporate governance. And a key demand … Continue reading
If you followed the financial news on Tuesday, you undoubtedly learned that something extraordinary happened at Citigroup Inc.’s annual shareholder meeting. Citigroup’s shareholders preliminarily rejected the Board of Directors’ executive compensation proposal. One might ask why this is significant. After … Continue reading
Motley Rice stands up for those who cannot stand up for themselves, representing people who have been injured, sometimes fatally, as a result of corporate malfeasance. We take pride in advocating for the rights of our clients and strongly believe … Continue reading