Morris Kandinov LLP (“MoKa”) announced today that it began operations as a law firm dedicated to retail and institutional investors. The firm offers four practice areas: (i) corporate governance litigation; (ii) securities class actions; (iii) asset management litigation; and (iv) direct actions on behalf of institutions.
We believe that the deterrent effects of stockholder litigation—and the billions of dollars recovered for millions of investors over the preceding decades—are largely attributable to a small group of individual and institutional investors who were willing to assert their legal rights to remedy corporate misconduct.
The U.S. Court of Appeals for the 2nd Circuit, in Oxford University Bank v. Lansuppe Feeder LLC, held that Section 47(b) of the Investment Company Act of 1940 creates a private right of action to seek rescission of an unlawful contract.
A recent ruling by the U.S. Court of Appeals for the Second Circuit greatly missed the mark, and could be concerning for investors relying on the Investment Company Act to keep mutual fund advisors honest.
Plaintiffs in an excessive-fee case against The Hartford received some discouraging news last week when a judge ruled entirely in favor of the adviser at trial, the latest result in a wave of similar lawsuits.