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Ninth Circuit Takes Tough Stance on Loss Causation
A company's announcement of an internal investigation may trigger a bad stock market reaction but, by itself, it's not enough to establish loss causation in a securities class action, the U.S. Court of Appeals for the Ninth Circuit held on Aug 7, 2014.
A three-judge panel affirmed U.S. District Judge Maxine Chesney's 2011 dismissal of a shareholders' suit targeting Immersion Corp. and five company executives. In Loos v. Immersio , filed in the U.S. District Court for the Northern District of California, plaintiffs argued that the San Jose, CA, tech company effectively revealed it had “cooked the books” in a 2009 press release announcing it was reviewing previous years' revenue calculations. Immersion's stock price dropped 23% on the news.
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Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.