The Eight Circuit Demands Meaningful Benchmarks in ERISA Fiduciary Duty Claim: Meiners v. Wells Fargo & Co.
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By Jeremy Root

ERISA Plan Participant must plead meaningful benchmarks to establish a claim for breach of fiduciary duty.

Meiners vs.

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Plaintiffs Protest Merger Proposal Press Release in Securities Class Action: Gross v. GFI Group, Inc.
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By Christopher G. Lazarini

*Whether a statement would give an investor a false impression is generally a question reserved for the fact-finder.

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Experts’ Differing Opinions Spawn Securities Fraud Class Action: Martin v. Quartermain
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By David C. Franceski, Jr.

*Opinions are misleading only if not truly held, objectively false or the product of material omissions.

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Choi to the World: When a Foreign Securities Transaction Becomes Domestic: Choi v. Tower Research
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By David C. Franceski, Jr.

*Under the Commodities Exchange Act, futures trades which are “matched” in the United States create irrevocable liability sufficient to constitute a “domestic transaction.” **Unjust enrichment under the common law of New York includes market manipulation which directly harms market participants and enriches the wrongdoer with funds which in equity and good conscience they ought not to retain.

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Underwriters’ Due Diligence Defense Endures Despite Document Discovery Denial: LendingClub Securities Litigation, In Re
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By Paul J. Dubow

Underwriter defendants relying on a defense of due diligence by non-professionals need not produce the relevant privileged documents,

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Class Action Claims Securities Exchanges Are Rigged for High-Frequency Trading Firms: City of Providence v. BATS Global Markets, Inc.
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By Noah D. Sorkin

*Federal courts have jurisdiction over private suits alleging that securities exchanges violated §10(b) of the Securities Exchange Act.

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