Inside the
Courts
An Update From Skadden Securities Litigators
CONTENTS
UNITED STATES SUPREME COURT 3
Amgen Inc. v. Conn. Ret. Pla ns & Trust Funds, No. 11-10 85 (2012)
ANNUAL STOCKHOLDER MEETINGS 3
Rich v. Fuqi Int’l, Inc., C.A. No. 5653-VCG (Del. Ch. Nov. 5, 2012)
AUCTION RATE SECURIT IES 4
Anschutz Cor p. v. Merrill Lynch & Co., Inc., No. 11-1305-cv
(2d Cir. Aug. 16, 2012)
AUDITOR LIABILITY 4
Gould v. Winstar Com mc’ns, Inc., Nos. 10-4028- cv(L); 10-4280-cv(CON)
(2d Cir. July 19, 2012)
Underland v. Alter, No. 10-3621 (E.D. Pa. July 16, 2012)
CLASS ACTION S 5
Class Act ion Fairness Act ...............................5
Frederick v. Hart ford Underwriters Ins. Co., No. 12-1161
(10th Cir. June 28, 2012)
Class Certification ..................................... 6
In re St. Jude Med., Inc. S ec. Litig., No. 10-cv-00851
(D. Minn. Oct. 25, 2012)
In re IndyMac Mortgage- Backed Sec. Litig., No. 09 Civ. 4583 (LAK)
(S.D.N.Y. Aug. 17, 2012)
Individual Claims ...................................... 6
McCrary v. Stifel , Nicolaus & Co. Inc., No. 11-1213 (8th Cir. Aug. 6, 2012)
DEMAND FUTILITY 7
Lambrecht v. O’Neal; Sollins v. O’Neal, Nos. 11-1285; 11-1589
(2d Cir. Dec. 4, 2012)
Swanson v. Weil, No. 11-cv-02142-WYD-KLM (D. Colo. Sept. 26, 2012)
In re HP Derivati ve Litig., No. 5:10-cv-3608 EJD (N.D. Cal. Sept. 25, 2012)
DIRECTORS AND DIRECTORS’ DUTIES 8
Caremark Liability .....................................8
South v. Baker, C.A. No. 7294-VCL (Del. Ch. Sept. 25, 2012)
Mergers and Acquisitions ...............................9
Ams. Mining Corp. v. The riault, Nos. 29 and 30, 2012 (Del. Aug. 27, 2012)
In re Synthes, Inc. S’ holder L itig., C.A. No. 6452 (Del. Ch. Aug. 17, 2012)
In re Answers Corp. S’ holders Litig., C.A. No. 6170-VCN
(Del. Ch. July 19, 2012)
DODD-FR ANK ACT 11
James L. Turkle Trust v. Wells Fargo & Co., No. C 11-6494 CW
(N.D. Cal. July 2, 2012)
ECONOMIC LOS S 12
Acticon AG v. China N.E. Petr oleum Holdings, Ltd., No. 11-4544-cv
(2d Cir. Aug. 1, 2012)
ERISA 12
Dudenhoefer v. Fif th Third Bancorp, No. 11-3012 (6th Cir. Sept. 5, 2012)
FOREIGN CORPORATIONS 13
Sec. & Exch. Com m’n v. Tourre, No. 10 Civ. 3229 (KBF)
(S.D.N.Y. Nov. 19, 2012)
FORWARD-LOOKING STATEMENTS 13
Rabbani v. DryShips Inc., No. 4:12-cv-00130 RWS (E.D. Mo. Nov. 6, 2012)
Rochester Labor ers Pension Fund v. Monsanto Co., No. 4:10CV1380 CDP
(E.D. Mo. Aug. 1, 2012)
INSIDER TRADING 14
Donoghue v. Bulldog Inve stors Gen. P’ship, No. 11-1708-cv
(2d Cir. Oct. 1, 2012)
Sec. & Exch. Com m’n v. Obus, No. 10-4749-cv (2d Cir. Sept. 6, 2012)
INVESTMENT C OMPANY ACT 15
Sivolella v. AXA Eq uitable Life Ins. Co., No. 11-4194 (PGS)
(D.N.J. Sept. 25, 2012)
LOSS CAUSATION 15
Bach v. Amedisys, No. 10-395-BAJ-CN ( M.D. La. June 28, 2012)
MATERIALITY 16
In re Boston Scient ific Corp. Sec. Litig., No. 11-2250 (1st Cir. July 12, 2012)
December 2012 | Volume 4 | Issue 4
Inside the
Courts
An Update From Skadden Securities Litigators
CONTENTS
MORTGAGE-BACKE D SECURITIES 16
NECA-IBEW Health & Welfare Fund v. Gold man Sachs & Co.,
No. 11-2762-cv (2d Cir. Sept. 6, 2012)
Fed. Hous. Fin. Agenc y v. Deutsche Bank AG, No. 11 Civ. 6192 (DLC)
(S.D.N.Y. Nov. 12, 2012)
Fed. Hous. Fin. Agenc y v. JPMorgan Chase & Co., No. 11 Civ. 6188 (DLC)
(S.D.N.Y. Nov. 5, 2012)
In re Morgan Stanley Mo rtg. Pass-Through Certifica tes Litig.,
No. 09 Civ. 2137 (LTS) (MHD) (S.D.N.Y. July 16, 2012)
PSLRA DISC OVERY STAY 18
Union Cent. Life Ins. Co. v. Ally Fin ., Inc., No. 11 Civ. 2890 (GBD) (JCF)
(S.D.N.Y. Aug. 17, 2012)
SCIENTER 18
Fried v. Lehman Bros . Real Estate Assocs. III, L.P., No. 11-1774
(2d Cir. Dec. 20, 2012)
KB Partners I, L P v. Barbier, No. A-11-C A-1034- SS
(W.D. Tex. Nov. 20, 2012)
Ross v. Career Educ. C orp., No. 12 C 276 (N.D. Ill. Oct. 30, 2012)
In re Fed. Nat’l Mortg. Ass’n Sec., Deri vative & “ERISA” Litig.,
No. 04-1639 (RJL) (D.D.C. Oct. 16, 2012)
SEC ENFORCEMENT 20
Sec. & Exch. Com m’n v. Apuzzo, No. 11-696-cv (2d Cir. Aug. 8, 2012)
Sec. & Exch. Com m’n v. Espuelas, No. 06 Civ. 2435 (PAE)
(S.D.N.Y. Oct. 26, 2012)
SECURITIES ACT C LAIMS 21
United States v. Baile y, No. 11-50132 (9th Cir. Aug. 27, 2012)
Ho v. Duoyuan Globa l Water, Inc., No. 10-CV-7233 (GBD)
(S.D.N.Y. Aug. 24, 2012)
Lenartz v. Am. Su perconductor Corp., No. 11-10582-WGY
(D. Mass. July 26, 2012)
SECURITIES F RAUD PLEADING STANDARDS 22
Boca Raton Firefighte rs & Police Pension Fund v. Bahash,
No. 12-1776-cv (2d Cir. Dec. 20, 2012)
In re Rigel Pharm., Inc., No. 10-17619 (9th Cir. Sept. 6, 2012)
SECURITIES INVESTOR PROTECTION ACT 23
Sec. & Exch. Com m’n v. Sec. Investor Prot. Co rp., No. 11-mc-678 (RLW)
(D.D.C. July 3, 2012)
SETTLEMENTS 23
In re Am. Int’l Grp., Inc. S ec. Litig., No. 10-4401-cv (2d Cir. Aug. 13, 2012)
SLUSA PRECLUSION 24
Stichting Pens ioenfonds ABP v. Merck & Co., Inc., No. 05-5060 (SRC)
(D.N.J. Aug. 1, 2012)
WHISTLEBLOWER PROTECTIONS 24
Ott v. Fred Alger Mgmt., Inc., No. 11 Civ. 4418 (LAP)
(S.D.N.Y. Sept. 27, 2012)
Kramer v. Trans-Lux Cor p., No. 3:11cv1424 (SRU)
(D. Conn. Sept. 25, 2012)
December 2012 | Volume 4 | Issue 4
