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Alison Frankel

Expert witness in opioids MDL: Fixing crisis will cost $483 billion

Apr 18 2019

Thanks to Purdue Pharma and other defendants in the multidistrict litigation that alleges the drug companies

Appraisal litigation after Aruba? It’s still a bad bet for shareholders

Apr 17 2019

For hedge funds specializing in appraisal litigation – in which shareholders refuse to tender their shares of a target company to the acquirer and instead ask a judge to set a fair value for their stake – there was good news and bad news in Tuesday’s extraordinary opinion from the Delaware Supreme Court in Verition Partners v. Aruba Networks.

Justices seem split on whether to consider private right to sue over tender offers

Apr 16 2019

At oral arguments Monday at the U.S. Supreme Court in Emulex v. Varjabedian, the big question was whether the justices will use the case to decide if private investors have a right to sue over allegedly misleading tender offer disclosures. Will the court consider the big issue? Or will the justices hew to the much narrower question of the proper pleading standard for shareholder claims?

Kessler Topaz wants to oust ex-partner from leadership of index-rigging MDL

Apr 11 2019

When a lawyer wins appointment to lead a big, complex multidistrict litigation that will require thousands of hours of work from other lawyers at her firm, who owns that plum job: the lawyer or her firm?

Judge-shopping in ‘Varsity Blues’ case?

Apr 10 2019

Defense lawyers representing parents facing conspiracy, fraud and money-laundering charges in the ‘Varsity Blues’ college admissions scandal sent a remarkable letter Tuesday to U.S. District Judge Patti Saris of Boston, chief judge of the district where the parents will be tried.

Judge in Tezos class action picks new lead without reopening selection process

Apr 09 2019

For the second time in a week, the judge presiding over a securities class action has picked a new investor to take over a case in which the court-appointed lead plaintiff sought to withdraw for personal reasons. On Monday, U.S. District Judge Richard Seeborg of San Francisco ruled that a previously passed-over candidate will now be in charge of a class action claiming that the backers of the $230 million Tezos cryptocurrency offering were selling unregistered securities, replacing a lead plaintiff whose social media posts might have created problems for the prospective class.

Litigation funder Burford raises $300 million for post-settlement deals

Apr 08 2019

When I first read an announcement Monday from Burford Capital, I thought the tectonic plates of litigation finance had shifted.

After lead plaintiff turmoil Kessler Topaz keeps control of Snap class action

Apr 03 2019

U.S. District Judge Stephen Wilson of Los Angeles ruled Tuesday that a group of Snap investors should serve as the lead plaintiff in a securities class action claiming the company failed to disclose discouraging user data in advance of its March 2017 IPO. The judge picked the coalition of five shareholders over two candidates with bigger losses, including the New Mexico State Investment Council. His ruling means that Kessler Topaz Meltzer & Check, which represents the newly appointed Snap investor group, will remain in charge of a case it has been litigating since May 2017.

In census and Obamacare amicus briefs, Big Law sides against Trump

Apr 02 2019

Monday was a momentous day for appellate litigators, with amicus brief deadlines in two momentous cases: the U.S. Supreme Court's review of the Trump administration’s decision to add a question about citizenship to the 2020 census; and a 5th U.S. Circuit Court of Appeals case in which Texas and other states, with the backing of the Justice Department, are defending a lower-court ruling that the Affordable Care Act is unconstitutional. Twenty of the biggest law firms in the country signed amicus briefs in the census case, including Latham & Watkins, Goodwin Procter, Jenner & Block and Sidley Austin. A dozen, including K&L Gates, Dentons and Schiff Hardin, filed briefs in the ACA appeal.

Start worrying, whistleblower bar: DOJ moves to toss long-running Gilead case

Apr 01 2019

If you’re a lawyer who represents whistleblowers with potential evidence of fraud against the United States, you should be fretting about a Justice Department motion filed Friday in a long-running False Claims Act suit against Gilead in federal court in San Francisco.

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