Webcast: Shareholder Litigation Developments and Trends

March 11, 2020

Shareholder lawsuits are not only complicated to litigate, but due to the high financial stakes, these actions can be among the most threatening to a company and its directors and officers. It has been twenty-five years since Congress enacted the Private Securities Litigation Reform Act of 1995, and since that time, private actions under the federal securities laws have continued to be filed at a steady pace. Over the last decade, the U.S. Supreme Court and the State Supreme Courts have issued multiple decisions impacting the way shareholder actions are litigated and decided. This one-hour briefing highlights recent developments and trends in this constantly evolving and complex area of the law.

Faculty discuss:

  • Shareholder actions filing and settlement trends
  • Discussion of scheme liability claims following the U.S. Supreme Court’s ruling in Lorenzo v. SEC (2019)
  • Update on trends in 1933 Act litigation in state courts in the wake of the Supreme Court’s ruling in Cyan v. Beaver County Employees Retirement Fund (2018), including various state courts’ rulings on such threshold questions as:
    • application of the PSLRA’s automatic stay of discovery pending resolution of a motion to dismiss
    • motions to stay state court actions in favor of parallel federal proceedings concerning the same issuer
    • the pleading standards applicable to 1933 Act claims in state courts

View Slides (PDF)

PANELISTS:

Jennifer L. Conn is a partner in the New York office of Gibson, Dunn & Crutcher. Ms. Conn is a co-editor of PLI’s Securities Litigation: A Practitioner’s Guide, Second Edition. She has extensive experience in a wide range of complex commercial litigation matters, including those involving securities, financial services, accounting malpractice, antitrust, contracts, insurance and information technology. She is also a member of Gibson Dunn’s General Commercial Litigation, Securities Litigation, Appellate, and Privacy, Cybersecurity and Consumer Protection Practice Groups.

Alexander K. Mircheff is a partner in the Los Angeles office of Gibson, Dunn & Crutcher. Mr. Mircheff is a co-author of PLI’s Securities Litigation: A Practitioner’s Guide, Second Edition. His practice emphasizes securities and appellate litigation, and he has substantial experience representing issuers, officers, directors, and underwriters in class action and shareholder derivative matters. Mr. Mircheff has handled matters across a variety of industries, including biotech, financial services, accounting, real estate, entertainment, engineering, manufacturing, and consumer products. He is also a member of Gibson Dunn’s Securities Litigation, Appellate, Class Actions, Labor and Employment and Litigation Practice Groups.

Robert F. Serio is a partner in the New York office of Gibson, Dunn & Crutcher and a Co-Chair of Gibson Dunn’s Securities Litigation Practice Group. Mr. Serio is also a co-editor of PLI’s Securities Litigation: A Practitioner’s Guide, Second Edition. His practice involves complex commercial and business litigation, with an emphasis on securities class actions, shareholder derivative litigation, SEC enforcement matters and corporate investigations. He is also a member of the Appellate, Class Actions, FCPA, and White Collar Defense and Investigations Practice Groups.