We are pleased to share the most recent edition of the Securities Law Alert from the partners at Simpson Thacher’s Litigation Department, and SLPC Contributors, Jonathan Youngwood, Peter Kazanoff, and Paul Gluckow. The following is an excerpt from the March 2012 edition of the Alert:
This month’s Alert addresses three decisions from the Second Circuit: one setting forth the requirements for pleading a “domestic transaction” within the meaning of the Supreme Court’s opinion in Morrison v. Nat’l Austl. Bank Ltd.; another staying the Southern District of New York’s order rejecting the SEC’s proposed consent judgment with Citigroup pending appeal; and a third holding that an Article 77 proceeding falls within the securities exception to the Class Action Fairness Act.
We also discuss rulings from the Delaware Chancery Court denying motions to preliminarily enjoin the Delphi/Tokio Marine and Micromet/Amgen transactions. In addition, we address a Southern District of New York order requiring the plaintiffs in the AIG securities fraud suit to reveal the identities of confidential witnesses cited in the complaint. Finally, we discuss decisions granting motions to dismiss “Say on Pay” shareholder suits brought derivatively on behalf of Intersil Corporation, BioMed Realty Trust, Jacobs Engineering Group and Umpqua Holdings Corporation.
To view and print the full Securities Law Alert, please click here.