Revisiting the Safe Harbor for Forward-Looking Statements as it turns 20: A focus on the first 'prong'
In the past, issuers who made forward-looking statements took on big risks: security holders were quick to sue for fraud if a forward-looking statement proved to be inaccurate.
Monster Energy has taken a hard swallow, and last week, agreed to settle a six-year-old class-action suits brought against the beverage company relating to claims it overstated the financial benefits of its distribution arrangement with Anheuser-Busch
Last week, Goldman Sachs & Co filed a petition for certiorari to the Supreme Court asking for review of the 2nd Circuit’s decision in NECA-IBEW Health & Welfare Fund v. Goldman, Sachs & Co.
Ripples from the collapse of MF Global are reaching the courtroom, as investors begin the effort to recover their money. A pair of pension funds filed a lawsuit Friday against seven banks that helped the futures brokerage sell bonds, claiming the bonds’ offering prospectuses hid significant problems.