The Wall Street Journal reported yesterday that the SEC is considering a new policy that would allow companies -- through a bylaw amendment -- to require that shareholder lawsuits be brought by arbitration, rather than litigation. The article, which notes that the matter is in the discussion stages, appears on the WSJ website, http://www.wsj.com. Doug Pepe

Download associated file: Supreme Court.pdf  As discussed in prior blogs, the Supreme Court is currently considering the proper standard for pleading a "strong inference" of scienter under the PSLRA in Tellabs, Inc. v. Makor Issues & Rights LTD., No. 06-484. The q ...

Download associated file: Final Rule 502 from Evid Committee.pdf  The meeting of the Advisory Committee on the Federal Rules of Evidence Rules has ended, and the final Committee version of Rule 502 is attached (it goes to the Standing Committee in June). Most notable: S ...

Download associated file: Final Selective Waiver Statutory Language.pdf  Also from the just-concluded Evidence Rules Committee meeting: Attached is the final language drafted by the Advisory Committee on the Federal Rules of Evidence regarding selective waiver. As noted ...

Download associated file: SDNY and EDNY proposed rule changes effective May 2007.pdf  The United States District Courts for the Southern District of New York and the Eastern District of New York have proposed changes to their Local Civil Rules. The proposed changes, whic ...

Apparently not in the Third Circuit, at least when it comes to the application of the fiduciary exception to the attorney client privilege. Addressing an issue of first impression, the Third Circuit recently held in Wachtel v. Health Net, Inc., Nos. 06-3031 & 06-3032, 2007 WL 958572 (3d Cir. Apr. 2, 2007), that while the fiduciary exception may apply to ERISA plan ...

Download associated file: Lowery.pdf  On Wednesday, the Eleventh Circuit issued its decision in Lowery v. Alabama Power Co., Nos. 06-16324 & 06-325, --- F.3d ---, 2007 WL 1062769 (11th Cir. Apr. 11, 2007). The Lowery panel was not shy in its views on the clarity of CAFA' ...

As discussed in the March 5 blog, the Supreme Court recently held in Sinochem Int’l Co. v. Malaysia Int’l Shipping Co., --- U.S. ---, 127 S.Ct. 1184 (2007), that a district court may dismiss a case on forum non conveniens grounds before addressing and resolving ‛jurisdictional issues.“ By ‛jurisdictional issues,“ the Court meant both personal jurisdicti ...

State court cases that are ‛related to“ bankruptcy proceedings may be removable to Federal Court, but the hurdles are high. The bankruptcy removal statute, 28 U.S.C. § 1452(a), permits removal where Federal bankruptcy jurisdiction exists under 28 U.S.C. § 1334. Bankruptcy jurisdiction encompasses a far broader category of cases than just those considered to ...

Are statements in a newspaper article admissible in Federal Court for the truth? If the article is more than 20 years old, the answer is generally yes. Federal Rule of Evidence 803(16) — the ‛Ancient Documents“ rule — provides that ‛[s]tatements in a document in existence twenty years or more the authenticity of which is established“ are not excluded b ...