The proposed settlement resolves claims that ARCP, now called VEREIT, misrepresented its financial performance for fiscal year 2013 and the first two quarters of 2014. The settlement is noteworthy for its size. According to Cornerstone Research,[1] since 1996, less than 2% of securities class action settlements have exceeded $1 billion. If approved, ARCP will be the tenth largest since the Continue Reading
Author: Mike Lange
Securities Litigation Counsel
Why the Deutsche Bank Settlement is Good News for Investors in the GSE Bond Market
On TV, prosecutors promise good deals to perpetrators willing to turn on and co-operate early against their alleged partners in crime. Something similar is playing out in the Southern District of New York in the antitrust class action filed last February against 16 firms who allegedly conspired to manipulate the market for bonds issued by Fannie Mae and other government Continue Reading
FX Case Update (August 2019): Two Settlements of Indirect Forex Suits Have Received Preliminary Approval
On Monday, July 29, 2019, a federal judge in New York preliminary approved the first two settlements of Indirect FOREX suits. The settlements were with Citigroup ($10 million) and MUFG Bank Ltd. ($985K). Litigation continues against more than ten other big banks that allegedly manipulated the foreign exchange markets between 2007 and 2013. These settlements are separate from the $2.3 Continue Reading
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Mike LangeSecurities Litigation Counsel
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