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New York, NY
January 23, 2018
Serena P. Hallowell, head of the Direct Action Litigation Practice, and of counsel Rachel A. Avan discussed the rise of direct actions in the fight against securities fraud. The program provided 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 addressed 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
Click here to listen to the recorded webinar
New York