PwC's 2011 SECURITIES LITIGATION STUDY
Percolating Topics for 2012: PwC Survey Finds Changing Landscape
Get ready for new areas of activity.
This theme emerges from analysis of the data in the 16th Annual Securities Litigation Study by PwC. The authoritative 2011 Study with incisive commentary will be presented for the first time at this special briefing.
Paul Hastings partner Doug Koff joins a panel of experienced practitioners involved in noteworthy actions that will review the key findings, analyze their implications, look at how the plaintiffs bar is concentrating its efforts, and examine the patterns from increased activity by the government in enforcement, whistleblower cases, investigations, and regulatory actions.
While financial crisis related cases slowed in 2011, the growth of merger and acquisition (M&A) related actions, continued in 2011 with a quarter of all securities litigation filings in 2011 citing allegations of a breach of fiduciary duty in connection with an M&A transaction. The Study explores possible explanations for this new type of litigation, a trend that PwC sees increasing in the years ahead.
Also in 2011, plaintiff lawyers continued to bring cases against foreign issuers, with 61 cases doubling last years filings. The increase was fuelled by the emergence of another area of focus: China-based companies, especially those entering US markets via reverse merger transactions. Many of these actions included accounting and governance-related issues.
The regulatory landscape changed considerably in 2011. Of particular note is the opening of the SEC Office of the Whistleblower that is likely to have a significant impact, not only on corporate investigations and SEC enforcement, but potentially on securities litigation. Developments in international markets may also change the litigation and enforcement landscape. The enactment of the UK Bribery Act, and a recent ruling by the Netherlands Court of Appeal, may signal that other countries may follow the USs lead in bribery enforcement and class action lawsuits.
CLE/CPE credit has been applied for.
Thursday, April 12, 20128:30 11:00 a.m.Washington, DC 20006
For questions, contact Lisa Colombo at