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CCH Issues White Paper on Obstacles to Securities Fraud Litigation
(RIVERWOODS, ILL., December 12, 2008) – CCH, part of Wolters Kluwer Law & Business, has published a white paper: Fraud Litigation after Dura, Stoneridge and Tellabs: Swimming Upstream? by CCH Securities Law Analyst N. Peter Rasmussen, JD. Wolters Kluwer Law & Business is a leading provider of research information and software solutions in key specialty areas for legal and business professionals (business.cch.com).
Rasmussen notes that investors may attempt to recover their losses from the tumbling stock market through class action litigation, but that “significant obstacles” now stand in their way.
Rasmussen examines three issues in detail: establishing fraudulent intent (scienter); pleading loss causation, especially in light of the recent Supreme Court Dura decision; and collectibility, where the Supreme Court “significantly narrowed the scope of actions against third-party defendants” in Stoneridge Investment Partners, LLC v. Scientific-Atlanta, Inc.
About the Author
N. Peter Rasmussen is a principal contributor to the industry-standard publication, CCH Federal Securities Law Reporter and is also co-author of several books on federal securities law, including: Responsibilities of Corporate Officers and Directors under Federal Securities Law, Guide to Internal Controls and Guide to Section 16: Insider Reporting and Short-Swing Trading Liability. In addition, he contributes regularly to the popular blog, Jim Hamilton’s World of Securities Regulation, at http://jimhamiltonblog.blogspot.com/.
About Wolters Kluwer Law & Business
Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services globally for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory sectors. Wolters Kluwer has annual revenues (2007) of €3.4 billion ($4.8 billion), maintains operations in over 33 countries across Europe, North America, and Asia Pacific and employs approximately 19,500 people worldwide. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. For more information, visit www.wolterskluwer.com.
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