Suchergebnisse

Cette présentation, destinée à un événement privé, tente d'offrir une synthèse des règles de droit international privé pertinentes dans le contexte des litiges intéressant les marchés financiers. L'accent est mis en particulier sur les litiges relatifs aux offres de titres. Les questions classiques de droit international privé (compétence internationale, droit applicable) sont étudiées en prenant appui sur les règles européennes de droit international privé. La perspective choisie est celle d'une application en Belgique de ces règles. La perspective se veut pédagogique plus que scientifique.

This Article examines the contentious and recurring issue of how courts should handle confidential witnesses in securities litigation who recant the information attributed to them in complaints or deny that they ever provided such information to plaintiffs' counsel and/or investigators. The use by plaintiffs of confidential witnesses has become ubiquitous in recent years, as a primary unintended effect of the Private Securities Litigation Reform Act of 1995. That legislation raised the bar for pleading securities fraud and established an automatic stay of all discovery and other proceedings during the pendency of a motion to dismiss, absent application of one of two narrow exceptions. The vise-like combination of these features forces plaintiffs to plead their cases with particularity while barring them from obtaining discovery to bolster their scienter and other allegations until all motions to dismiss have been resolved. In response, plaintiffs have turned to confidential witnesses, who typically are current or former employees of the defendant. These witnesses provide information anonymously for use in complaints, mainly because they are fearful of retaliation by defendants. In a recent series of high-profile cases, courts have been confronted with allegations that plaintiffs' confidential witnesses either have recanted the information attributed to them, or denied ever providing such information. This Article examines the contrasting approaches taken by courts to alleged recanting, and provides some specific recommendations for avoiding or resolving this problem in the future.

Securities Litigation provides an analytical and practical framework addressing the key subjects in the field. In this text, U.S. Supreme Court and lower court cases that cover the key remedial provisions are highlighted, including Sections 11 and 12 of the Securities Act and Section 10(b) of the Securities Exchange Act, as well as alternative federal remedial statutes (such as Sections 14(a) and 18(a) of the 1934 Act) and secondary liability provisions. Integral to this discussion is a thorough treatment of class and derivative actions, with applicable cases and statutes. Government enforcement is also analyzed, with particular focus being given to the SEC and criminal enforcement. In addition, state securities litigation is covered in depth along with professional liability exposure. The text provides a practical and insightful learning experience, complemented by problems and exercises that will enhance students' lawyering skills. ; https://digitalcommons.law.uidaho.edu/facw_books/1015/thumbnail.jpg

Although a comparative approach is used, the primary focus of this article is how recent legislative changes and market events have influenced the Canadian securities landscape. In doing so, this Article contributes to the ongoing debate on public and private enforcement by evaluating securities enforcement from a systemic perspective, focusing on the relationship between public and private enforcement and synergies that exist in the Canadian environment. This analysis of recent trends and literature on securities enforcement in Canada highlights the interrelationship between public and private enforcement in Canada and supports the conclusion that any legislative changes must consider the securities regulatory framework as a whole as opposed to affecting changes on a piecemeal basis.