A district court erred in appointing a sole lead plaintiff for a securities fraud case against H&R Block, according to the 8th U.S. Circuit Court of Appeals. The appellate court affirmed the dismissal of the class action against the company ...

Tagged with: H&R Block Private Securities Litigation Reform Act

A federal appeals court has ended a class action lawsuit against Kansas City-based NovaStar Financial. The 8th U.S. Circuit Court of Appeals said Tuesday that the lawsuit filed in 2007 wasn’t specific enough to meet the detailed pleading requirements of ...

Tagged with: 8th U.S. Circuit Court of Appeals NovaStar Financial Private Securities Litigation Reform Act SEC

A federal appeals court has ended a class action lawsuit against Kansas City-based NovaStar Financial. The 8th U.S. Circuit Court of Appeals said today that the lawsuit filed in 2007 wasn’t specific enough to meet the detailed pleading requirements of ...

Tagged with: 8th U.S. Circuit Court of Appeals NovaStar Financial Private Securities Litigation Reform Act

A federal judge renewed his criticism of law firms’ monitoring retirement-fund portfolios for fraud because the practice may spur questionable lawsuits. U.S. District Judge Jed Rakoff in New York criticized the practice in an opinion Tuesday. He had previously expressed ...

Tagged with: Jed Rakoff Private Securities Litigation Reform Act

The securities laws may be your worst enemy if you lost money in the Madoff scam. Investors are suing the feeder funds that channeled their money to Bernard Madoff, charging the feeders with fraud, negligence or breach of fiduciary duty. ...

Tagged with: Bernard Madoff breach of fidicuary duty fraud Negligence Private Securities Litigation Reform Act