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One plaintiff win, one defense win in securities class action trials



Lyle Roberts does such a good job summarizing with links, I'm just going to plagiarize his excellent post:

As it turns out, trials remain a risky business for both plaintiffs and defendants. Any thoughts that the JDS Uniphase defense verdict would lead to more securities class action trials will have to be tempered by yesterday's result in the Apollo Group trial. Bloomberg reports that the jury returned a plaintiff verdict that could lead to a payout of up to $277.5 million in damages.

Interestingly, the company has a web page on the litigation that includes a case summary, key documents, and a timeline of events. Comprehensive coverage of the trial and the jury verdict can be found at Securities Litigation Watch and The D&O Diary.

The plaintiffs firm also has a press release. The WSJ Law Blog also covers the story; as per usual, the plaintiffs' attorney "Tort Reform [sic]" trolls the comment section with an inflammatory strawman that no reformer has ever adopted, and successfully fools other commenters and a gullible blogger. Why the WSJ Law Blog continues to tolerate this persistently disruptive commenter is beyond me.

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Rafael Mangual
Project Manager,
Legal Policy
rmangual@manhattan-institute.org

Katherine Lazarski
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.