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Two Areas for Reform in Securities Litigation  (Volume 53, Number 10– May 27, 2020)

Author:  Gregory A. Markel.; Sarah A. Fedner.

Source: Volume 53, Number 10, May 15 2020 , pp.113-124(12)

Review of Securities & Commodities Regulation


Securities litigation has increased dramatically in recent years. Taking note of this, the authors focus on two strategic tactics by plaintiffs’ lawyers: the payment of mootness fees to plaintiffs’ attorneys in meritless merger cases, and the filing of duplicative federal and state class actions made possible by the Supreme Court’s Cyan decision. They outline the policy objections to these practices and suggest that Congress should intervene to end them.

Keywords: Mootness Fees; In re Trulia, Inc. Stockholder Litigation; Duplicative State and Federal Litigation; Cyan v. Beaver County Employees Retirement Fund; Private Securities Litigation Reform Act (“PSLRA”)

Affiliations:  1: Seyfarth Shaw LLP; 2: Seyfarth Shaw LLP.

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