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At one point in the 1999 movie "The Insider," 60 Minutes producer Lowell Bergman (portrayed by Al Pacino) tells distraught Big Tobacco whistleblower Jeffrey Wigand, "Guys like you are in short supply." Bergmann's right. Whistleblowers are in short supply because they rightfully fear retribution from their employers for ...

United States investors, who buy or sell securities outside the US, cannot sue in the US or use US law, to recover against foreign fraudsters! Nor can foreign investors trading abroad who are victims of fraud perpetrated in the US by US corporate fraudsters! This dilemma is the new result of the United States ...

We have staked out our position on the Supreme Court's continued chipping away at the ability of the investor to get redress for wrongs committed by corporate America. Let's just realize that our Supreme Court has been co-opted to protect corporations over individuals. Shutting the door on the ability to pursue aiders and ...

Now is the time, if ever, for Congress to pass legislation that would reinstate aiding and abetting liability for accountants, lawyers, and others who help corporate executives commit securities fraud that harm investors. The public is outraged from watching all those who assisted in the market meltdown walk away with their huge ...

In what will hopefully be a short-lived opinion, a panel of the Ninth Circuit issued a per curiam opinion which appears to state that plaintiffs can never certify a class action for market manipulation....only for outright misrepresentations or ommissions---a curious if not frightening holding at a time when Wall Street has proven itself to ...

Matrixx Initiatives, Inc. (Nasdaq: MTXX), the makers of Zicam products, looks like it may have come close to violating the securities fraud statutes when it failed to provide the Food and Drug Administration (FDA) with more than 800 reports relating to the loss of sense of smell associated with the Zicam Cold Remedy intranasal ...

Institutional investors do in fact make a difference as lead plaintiffs in reaching larger settlements and improving corporate governance. Given the costs of serving as a lead plaintiff and the free rider problem, institutional investors may not want to lead class-action lawsuits even if they hold the largest financial stake in the ...

I waited for March 26, 2009, in great anticipation that we might see meaningful change in protecting investors. I pray that my retirement years are not stolen from me as they have been from those who we represent - those who trusted Charles Schwab, OppenheimerFunds, MassMutual and Madoff. However, March 26 came and went with little recognition of ...

As we proceed to work our way through the Madoff litigation, we focus on cases where we believe there is a source of recovery for our clients. To date, that is largely the Tremont Rye Funds, controlled by Oppenheimer and Massachusetts Mutual, audited by the Big Four accounting firms and supposedly a custodial bank, Bank of New York Mellon. ...

Earlier today, we filed a class-action suit on behalf of investors in the Oppenheimer Champion Income Fund (OPCHX). We are claiming that the fund managers misled investors; we contend they painted the fund as a conservative, high-income fund with a risk profile at par with other funds in its class. Instead, we believe Oppenheimer actually morphed ...