Lawline CLE Program: Trends in Direct Actions and the Rise of Direct Actions in the Securities Fraud Arena

New York, NY
January 23, 2018

Join Serena P. Hallowell, head of the Direct Action Litigation Practice, and of counsel Rachel A. Avan for an engaging look at the rise of direct actions in the fight against securities fraud. This program is designed to provide a general overview of direct actions as an alternative to participation in class action litigation, what investors need to consider in evaluating direct action opportunities, and recent trends in these types of cases in the aftermath of ANZ Securities v. CalPERS.  Specifically, Serena will address the consequences of the recent Supreme Court decision in ANZ Securities v. CalPERS, which resolved conflicting circuit court authority in holding that the three-year statute of repose under the Securities Act of 1933 could not be equitably tolled during a pending class action.  

Learning Objectives:

  • Understand the dynamics of opting out of a securities class action as an alternative to participation in class action litigation
  • Evaluate the factors that investors need to consider in evaluating direct action opportunities
  • Identify recent trends in direct action cases in the aftermath of the Supreme Court’s recent decision in ANZ Securities v. CalPERS, which held that the three-year statute of repose under the Securities Act of 1933 could not be equitably tolled during a pending class action, and its potential long-term effects