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New Litigation Funding Rule: Transparency Boost Or Unnecessary 'Sideshow' Risk?

New Litigation Funding Rule: Transparency Boost Or Unnecessary 'Sideshow' Risk?
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Blog: Why event-driven securities litigation has become a thing—and a lucrative one too | Cooley LLP

If Matt Levine has a mantra in his “Money Stuff” column on Bloomberg, it’s this: everything is securities fraud. “You know the basic idea,” he often says in his most acerbic voice, “A company does something bad, or something bad happens to it. Its stock price goes down, because of the bad thing. Shareholders sue: Doing the bad thing and not immediately telling shareholders about it, the shareholders say, is securities fraud. Even if the company does immediately tell shareholders about the bad thing, which is not particularly common, the shareholders might sue, claiming that the company failed to disclose the conditions and vulnerabilities that allowed the bad thing to happen. And so contributing to global warming is securities fraud, and sexual harassment by executives is securities fraud, and customer data breaches are securities fraud, and mistreating killer whales is securities fraud, and whatever else you’ve got. Securities fraud is a universal regulatory regime;

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Louisianans want legal settlement funds dedicated to coastal restoration, poll finds

More than 70 percent of Louisiana residents oppose diverting funds from coastal erosion lawsuits filed against energy companies for purposes unrelated to marshland restoration, according to a new survey.

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Texas House committee hears tort reform measures, including bill to stop abuse of public nuisance

Harris AUSTIN – A number of tort reform measures were heard yesterday by Texas House members, including bills on public nuisance, loser pays and paid or incurred. The Judiciary & Civil Jurisprudence Committee spent the better part of the day listening to testimony. About forty minutes into the session, House Bill 2144 was discussed. Authored by Rep. Cody Harris, HB 2144 seeks to ensure that the tort of public nuisance is clearly defined and consistent with its traditional purpose. “The Texas economic miracle is built on low taxes … and legal reform – the last thing we need to do is return to the day when Texas was the world’s courtroom where money-hungry plaintiff’s attorneys filed one frivolous lawsuit after another,” Harris told committee members. “House Bill 2144 will keep Texas a national leader in legal reform and will stop activist attorneys from abusing public nuisance lawsuits.

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