The Securities Litigation Committee, whose diverse membership includes attorneys from both the plaintiff and defense perspective, corporate counsel, and academicians, strives to be an invaluable resource to those practicing or interested in securities litigation, arbitration or regulatory enforcement matters.

Our website provides information on a variety of securities-related topics, including practical tools and discussion of the latest issues in the securities field. The Committee's quarterly publication, the Securities Litigation Journal, which includes articles on matters of new or continuing interest in the securities area authored by notable practitioners and academics, is distributed to the Committee's membership.

The Committee also publishes an annual survey of Broker Dealer Litigation which is made available to Committee members and at the annual Securities Industry Association Compliance and Legal Conference.

Our members can also benefit from educational programs sponsored by the Committee and presented through the ABA by live audio teleconference, regional CLE meetings across the country, and panel discussions at ABA conferences.

 In Securities and Exchange Commission v. Bank of America, 09 Civ. 6829 (S.D.N.Y. Sept. 14, 2009), Judge Jed S. Rakoff of the Southern District of New York took both the Securities and Exchange Commission (SEC) and Bank of America to task for “contriv[ing]” a settlement that essentially re-victimized Bank of America shareholders.

In the first appellate decision borne out of the wave of litigation related to the subprime meltdown and credit crisis, on September 1, 2009, the U.S. Court of Appeals for the Eighth Circuit affirmed the Western District of Missouri’s dismissal of a securities class action brought against Novastar Financial, Inc.

On October 5, 2009, Judge Shira A. Scheindlin of the U.S. District Court for the Southern District of New York provided the final approval for a consolidated settlement that puts to rest over three hundred separate securities class actions and caps eight years of multi-district litigation.

The Fall 2009 edition of the Securities Litigation Journal is now available.

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