News Archive

In a unanimous opinion by Justice Sotomayor, the Court affirmed the decision of the Ninth Circuit that plaintiffs stated a claim for securities fraud under §10(b) of the Securities Exchange Act and SEC Rule 10b-5.

State’s Highest Court Reaffirms Protective Force of Unfair Competition Law and Holds Company Accountable for Illegal Deceptions in Highly Anticipated Kwikset Decision

The Supreme Court issued its opinion today in Morrison v. National Australia Bank, No. 08-1191 (June 24, 2010), holding that “Section 10(b) applies only to transactions in securities listed on domestic exchanges and domestic transactions in other securities.”

Robbins Geller obtained class certification in two securities class action cases this week in UTStarcom and Novatel.

For the third year in a row, RiskMetrics ranks Robbins Geller above all other plaintiff's firms for the number of securities class action settlements obtained for aggrieved shareholders. And, this year, RiskMetrics also ranked Robbins Geller first in settlement value.

Coughlin Stoia has 26% of settled securities cases from 2008-2009 - more than double that of the next closest law firm - according to Cornerstone Research

Securities plaintiffs attorney Patrick Coughlin will soon scale back his duties and take his name off the letterhead at San Diego-based Coughlin Stoia Geller Rudman & Robbins. At the same time, the 180-lawyer firm is promoting Michael Dowd to name partner

Days after being named an “Attorney of the Year” by California Lawyer magazine, Michael J. Dowd has been added as a name partner at Coughlin Stoia Geller Rudman & Robbins LLP.

California Lawyer magazine has named 44 attorneys around the state to receive the 14th annual California Lawyer Attorneys of the Year Awards. Their achievements had a significant impact in 2009, or their work is expected to have such an effect in the coming years. The awards recognize 27 accomplishments in 17 areas of legal practice.

Coughlin Stoia made Law360’s list of top securities firms of 2009 on the strength of its near $1 billion settlement with UnitedHealth Group Inc. over stock options backdating, a $109 million settlement with accounting giant Ernst & Young LLP, a $50 million settlement with TD Banknorth Inc. over its going-private merger and several key pharmaceutical litigations.

For two decades, the nation's top credit rating agencies have managed to fend off a crackdown from Washington by relying on a surprising ally - the First Amendment.

Mattel Inc. and its Fisher-Price subsidiary have agreed to settle a consumer lawsuit for what could total more than $50 million over the 2007 recall of millions of toys made in China that were found to contain high levels of lead.

The Daily Journal publishes its 12th annual listing of the most influential legal leaders in the state.

A big win.

The agreement is a significant victory for Coughlin Stoia Geller Rudman & Robbins, the San Diego-based class action firm that once won a $7 billion lawsuit against Enron. The $35 million Activia settlement is the largest-ever for a suit alleging false advertising of a food product.

A U.S. judge refused to dismiss a lawsuit against Moody’s Investors Service Inc. and Standard & Poor’s, rejecting arguments that investors can’t sue over deceptive ratings of private-placement notes because those opinions are protected by free-speech rights.

UnitedHealth Group Inc., the largest U.S. health insurer, and investors won final court approval of the $895 million settlement of a lawsuit in which the company was accused of improperly backdating stock options.

Senate Majority Leader Harry Reid recently selected Georgiou and another Nevadan, Heather Murren, to serve on the 10-member Financial Crisis Inquiry Commission, which aims to investigate the financial implosion much as the 9/11 Commission reviewed all aspects of the terrorist attacks.

A rare jury trial in a securities class action has potentially left HSBC Holdings plc on the hook for more than $2 billion in damages. On May 7 a jury found it and three former officers of a mortgage lender it acquired in 2002 liable for securities fraud.

Faulting the lower court’s standard for loss causation, a federal appeals court has breathed new life into a putative class action alleging Flowserve Corp., as well as the company’s underwriters and auditors, defrauded investors with false financial reports.

The federal appeals court in Atlanta has rejected objections to the settlement of a securities fraud suit against HealthSouth.

The federal appeals court in Atlanta has rejected objections to the settlement of a securities fraud suit against HealthSouth.

THE Washington Supreme Court's ruling in the F5 Networks Inc. case is a welcome step in ensuring ethical corporate behavior.

"We are extremely proud of our trial team and pleased that defrauded shareholders have won this historic victory," said Coughlin Stoia partner Patrick Coughlin in a statement e-mailed to the Litigation Daily. "The jury’s verdict is a victory for the millions of Americans suffering as a result of deceptive predatory lending practices and a victory for all investors fighting for greater corporate transparency, honesty and integrity. The verdict is also a testament to our firm's willingness and ability to see a case through on behalf of our clients, despite facing adversaries with tremendous power and resources."

In a published opinion that loosens limits on consumer class actions, an appellate court said Safeco Insurance Co. must disclose which customers it allegedly surcharged illegally several years ago.
05/05/09

A state appeals court this morning reinstated a $17 million jury verdict against American Family Mutual Insurance Co. in a class action lawsuit over aftermarket auto parts.

Despite the flood of well-documented corporate misdeeds that have led to the worst recession of our lifetime, the powerful corporate immunity lobby still tries to prevent corporations and the executives who run them from being held accountable for their actions.

A "poster child" for "ridiculous and truly abusive lawsuits" is how John Sullivan of the Civil Justice Association of California described the Benson v. Kwikset case in a Forum piece ("A Slow End to 'Kwikset'," March 25).

NEW YORK, March 6 (Reuters)- A long-running lawsuit brought by Enron investors against three financial firms over their dealings with the collapsed energy trader has been dismissed by a federal judge in Houston.

HOUSTON — A Houston federal judge has signed an order ending an 8-year-old lawsuit by Enron Corp. shareholders and investors who had accused various financial institutions of participating in the accounting fraud that led to the once mighty energy giant's downfall.

The parties to County of Santa Clara and the People of the State of California v. Driver Alliant Insurance Services, Inc., pending in the Superior Court of the State of California, County of Alameda before the Hon. Robert B. Freedman, today announced a settlement of their dispute over insurance business practices as they pertain to the brokerage of insurance policies purchased by California governmental entities.