In Cyan, Inc. v. Beaver County Employees Retirement Fund, the Supreme Court interpreted the Securities Litigation Uniform Standards Act of 1998 (SLUSA) to preserve state courts' jurisdiction to hear cases brought under the Securities Act of 1933, a question on which courts had been split. The...

Drawing on the political theory of judicial decision making, our paper proposes a new and parsimonious ex ante litigation risk measure: federal judge ideology. We find that judge ideology complements existing measures of litigation risk based on industry membership and firm characteristics....

Multi-party litigation refers to different legal mechanisms that facilitate groups of litigants with similar causes of action to bring consolidated legal claims to court. The rise of collective action regimes around the world reflects a trend in civil litigation which offers an alternative to...

Institutions issuing publicly traded securities must divulge in a timely fashion any piece of information that may affect the price of their securities. When they fail to do so, these issuers expose themselves not only to administrative—and sometimes criminal—sanctions, but also to private...

We examine the effect of investor attention on value loss due to securities class action lawsuits and fraud discovery. We find that investor attention is positively associated with damage to corporate reputation and the magnitude of value losses suffered by the defendant firm. The reputational...

In this paper, An Assessment of the Role of Forensic Accountants in Litigation Support Services, the evolution of forensic accounting was explained while the need for forensic accounting in an organisation vis a vis the possible litigation services was assessed. Content analysis method was used...

Staff retrenchment is one the contentious legal battle an acquirer probably faces because acquired firms so often had run into financial problems and had to lay off some employees who might have been challenging employer’s decision during business combination process. Such legal exposure...