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Settlement Alert: Becker v. Bank of New York Mellon, et al.

7/6/2018 - Plaintiff, Leonard Becker, on behalf of himself and the Class, has reached a proposed Settlement of $13,500,000 in Becker v. Bank of New York Mellon, et al., Case No.

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Bondholder Class Action Against BNY Mellon Settled on Eve of Closing Arguments

4/19/2018 - On April 16, 2018, Barrack Rodos & Bacine began a trial before Judge Juan R. Sánchez in the United States District Court for the Eastern District of Pennsylvania in a class action lawsuit brought on behalf of former bondholders of Lower Bucks Hospital.  The lawsuit was brought against The Bank of New York Mellon Trust Co., N.A., and J.P.

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Barrack, Rodos & Bacine Files Securities Class Action Lawsuit Against WageWorks, Inc.

3/9/2018 - Barrack, Rodos & Bacine has commenced a securities class action lawsuit on behalf of purchasers of the securities of WageWorks, Inc. (NYSE: WAGE) ("WageWorks" or “WAGE”) from May 6, 2016 through March 1, 2018, inclusive (the "Class Period").  The complaint is styled Government Employees' Retirement System of the Virgin Islands v. WageWorks, Inc., et al., Case No.

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Practice Note: SEC Issues Updated Guidance on Cybersecurity Disclosures by Public Companies

2/21/2018 - On February 21, 2018, the United States Securities and Exchange Commission (“SEC”) published Interpretive Release ("IR") 33-10459, which provides guidance on disclosures from public companies relating to cybersecurity risks and incidents.  The release emphasizes the important role played by a company's internal policies and procedures related to cybersecurity risks and incidents in satisfying the company's disclosure obligations.  The IR warns companies and their directors, officers, and other corporate insiders about trading in a company’s securities while in possession of non-pu

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BR&B Works With New Mexico Attorney General Hector Balderas To Protect New Mexico Solar Power Consumers

3/8/2018 - New Mexico Attorney General Hector Balderas announced today that the Office of the Attorney General’s Consumer and Environmental Protection Division filed a complaint against Vivint Solar, Inc. and related companies (“Vivint”), asserting that Vivint is engaging in misleading, improper, and/or illegal marketing and business practices in connection with its sales of residential solar power purchase agreements and placement of solar equipment on the homes of consumers.  Attorney General Balderas commissioned Barrack, Rodos & Bacine attorneys Stephen R. Basser, Jeffrey A.

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Court Grants Final Approval of Settlement in In re DFC Global Securities Litigation

9/20/2017 - On September 20, 2017, Judge Berle Schiller of the United States District Court for the Eastern District of Pennsylvania granted final approval of the settlement and plan of allocation in In re DFC Global Corp. Securities Litigation, C.A. No. 13-cv-6731, a securities fraud class action that challenged statements made by DFC Global Corp., a payday lender with core operations in the United Kingdom, and members of its senior management team, regarding the company’s lending practices.  The settlement of this action included a cash payment of $30,000,000.

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Class Action Alert: Becker v. Bank of New York Mellon Notice of Pendency of Class Action

9/27/2017 - By Order dated September 14, 2017, the Court approved the proposed form, content, and manner of giving notice to potential class members that a Class had been certified in Becker v. The Bank of New York Mellon Trust Company, N.A., et al., Civil Action No. 11-cv-6460.  The “Notice of Pendency of Class Action” (the “Notice”), available here, describes the action and class members’ related rights in detail.  The “Class” is defined as:

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Court Allows Cost of Insurance Increase Case to Proceed Against Lincoln National Corp. and Lincoln National Life Insurance Co.

9/11/2017 - Judge Gerald J. Pappert of the United States District Court for the Eastern District of Pennsylvania has denied in large measure defendants’ motion to dismiss the Consolidated Class Action Complaint that plaintiffs filed on April 19, 2017, in In re Lincoln National COI Litigation, C.A. No.

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Columbia Law School Blue Sky Blog Publishes BR&B Attorneys' Article About Mandatory Arbitration

8/28/2017 - The Columbia Law School’s Blue Sky Blog published an article by BR&B partner Samuel M. Ward and associate Michael A. Toomey rebutting a prior article by Harvard Law School Professor Hal S. Scott.  Professor Scott argued that mandatory arbitration provisions in corporate charters would be good for stockholders and that the current system of federal oversight is sufficient to inhibit and remedy corporate fraud.  BR&B’s attorneys explain that, as stated by the U.S. Supreme Court and U.S.

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Law360 Published BR&B Attorneys' Article Addressing SEC Commissioner's Controversial Mandatory Arbitration Remarks

8/9/2017 - Law360 published an article by BR&B partner Samuel M. Ward and associate Michael A. Toomey that addresses remarks made by SEC Commissioner Piwowar during a July 17, 2017 Q&A, in which the Commissioner invited companies to include mandatory arbitration provisions in their corporate charters.  This signaled a potential change to the SEC’s position on such arbitration provisions.  The Law360 article explains how such arbitration provisions could inhibit investors’ ability to use the federal securities laws to prevent, correct, and redress corporation malfeasance.

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