Gatekeeper Liability: When Auditors, Underwriters, and Directors Get Pulled Into a Securities Suit
By Thomas Przybylowski, Securities Litigation Attorney At a Glance Plaintiffs often name the auditor, the underwriters, and the outside directors alongside the company itself, but private securities law does not treat helping a fraud the same as committing one. Since Central Bank of Denver v. First Interstate Bank (1994), private plaintiffs cannot sue for aiding […]
Navigating Complex Securities Fraud Class Actions: An Attorney’s Perspective
Securities fraud class actions present unique procedural and strategic challenges for both plaintiffs and defendants. In recent years, federal courts have tightened the pleading standards required to survive a motion to dismiss, requiring litigants to plead falsity and scienter with particularity under the Private Securities Litigation Reform Act (PSLRA). Understanding how to navigate these requirements […]