Financial Recovery Technologies Fast Five provides you with the top news in shareholder class actions. Stay up-to-date on the latest developments in settled (U.S./Canada) claims filing opportunities, Antitrust settlements, Global Group Litigation matters and more. For more information, contact your Financial Recovery Technologies representative or email us.

1. Investors Seek Class Cert. in Rate-Swap Antitrust MDL

The institutional investors leading a sprawling multidistrict litigation against 11 megabanks that allegedly colluded to control the interest rate swaps market asked a New York federal judge on Thursday to certify a class of investors who did swaps deals with the banks over the last six years. The certification bid, which requests the appointment of Quinn Emanuel Urquhart & Sullivan LLP and Cohen Milstein Sellers & Toll PLLC as class counsel, says evidence obtained during discovery thus far firmly supports allegations that the banks conspired to block startup trading platforms from entering the market. Click here to read the full article (subscription may be required).

2. Landmark Post-Halliburton Decision From 8th Circuit Allows Best Buy to Escape Class Action

A once-promising securities class action against Best Buy came to a whimpering end on Friday, when U. S. District Judge Donovan Frank of St. Paul, Minnesota, granted summary judgment to the electronics chain, which had been accused of misrepresenting its projected earnings in a conference call with analysts way back in 2010. Click here to read the full article.

3. ALRC’s Recent Report on the Class Actions Regime: Key Recommendations

On 24 January 2019, the Australian Law Reform Commission issued a report entitled Integrity, Fairness and Efficiency – an Inquiry into Class Actions Proceedings and Third-Party Litigation Funders. The ALRC report sets out a comprehensive analysis of the current Australian class actions framework and makes 24 recommendations in relation to the regulation of class action proceedings and funding arrangements. Click here to read the full article.

4. Litigation Funding: Private Equity Investment Opportunity and Portfolio Risk Management Tool

Litigation funding, the third-party financing of legal costs in disputes, is increasingly common in the UK. The UK litigation funding landscape has begun to resemble the US, where external parties commonly finance a wide range of claims in return for a share of any ultimate litigation win. In Latham & Watkins’ view, PE firms should consider litigation funding as a growth sector — and as a valuable tool for de-risking portfolio company claims. Click here to read the full article.

5. Teva Putative Federal Securities Class Member Seeks to Toll Statute of Repose With Motion to Intervene

The United States District Court of the District of Connecticut will soon decide whether a putative class member may intervene “for the limited purpose of tolling the statute of repose.” Statutes of repose place an outer limit on when a claim can be brought. How the Court rules on the motion will not only affect putative members in the Teva class action, but also putative members in other federal securities class actions. A decision granting CalSTRS’s motion will benefit purported class members who face the expiration of a statute of repose—saving the time and money associated with filing individual actions or proposed complaints attached to motions to intervene. Such a decision may, however, burden courts with a potential influx of last minute intervenors. Should CalSTRS’s motion be denied, the Court’s reasoning will be important for large shareholders to understand how to best protect potential claims. Click here to read the full article.

Learn More

To learn more about how FRT can help your firm maximize recoveries in shareholder class action settlements, contact us at learnmore@frtservices.com.

• Blogs
  • FX Case Update (March 2019): Memo filed in support of motion for initial distribution
  • Case Spotlight: FX Canada
  • A look back at Antitrust Litigation in 2018
  • Three Non-U.S. Passive Participation Opportunities to Keep on Your Radar
  • EU Proposal May Move European Jurisdiction Risk Profiles Closer to the U.S.
  • Securities Class Action Cases: Quarterly Disbursed Claims – Q4-2018
  • Unique Data in Complex J.P. Morgan ADR Case Presents Filing Challenges
  • FRT Insights – Quarterly Newsletter: January 2019
• Whitepapers:
  • A Primer on Shareholder Class Action
  • A Primer on Global Group Litigation
  • Illustrating The Outer Time Limits By Which Filing Decisions Must Be Made
  • Calculating Inflationary Losses for Comparison to Loss Thresholds
  • Global Landscape Continues to Evolve in the Wake of Morrison Decision

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