Fight Or Settle? Let's Look At A Rare Securities Trial
Law360, New York (December 1, 2014, 10:29 AM EST) -- On Nov. 21, 2014, after a securities class action trial that lasted less than three days and after less than a day of deliberation, an eight-person jury entered a verdict holding former Longtop Financial Technologies Chief Financial Officer Derek Palaschuk liable for the company’s alleged misrepresentations about its financial condition.
As detailed below, trials in securities class action lawsuits are extremely rare — there has not been a trial in a securities class action lawsuit to reach a verdict since 2011. As also discussed below, there were a number of other unusual features about this case, including both the brevity of...
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