The IRE Resource Center is a major research library containing more than 23,250 investigative stories — both print and broadcast. These stories are searchable online or by contacting the Resource Center directly (573-882-3364 or email@example.com) where a researcher can help you pinpoint what you need. Browse or search the tipsheet section of our library below. Stories are not available for download but can be easily ordered by contacting the Resource Center:
Search results for "securities class-action lawsuits" ...
In San Francisco, a "secret Internet switching room packed with surveillance gear and wired to AT&T's backbone network" was interconnected to other major Internet providers. The documents detailing this setup had been sealed due to a class-action lawsuit against AT&T, in which a civil liberties group "charged that the company had helped the government eavesdrop on Americans' domestic and international Internet traffic without a warrant."
The law firm of Milberg Weiss had presented itself "as a champion of the little guy" in filing securities class-action lawsuits. But the firm "has been indicted for allegedly paying three plaintiffs $11.4 million in illegal kickbacks in about 180 cases spanning 25 years - and then repeatedly lying about it to the courts." Fortune tells the story of the investigation into this firm's indiscretions, with a discussion of how the money changed hands, and the reaction to the indictment.
Money examines the reasons behind the trend of increasing number of lawsuits against brokers and financial advisers. The story relates the trend to statistics showing that since March 2000 investors have lost $4 trillion in paper wealth. "In one corner are brokers who gave clients poor advice and made money at their expense; in another are investors who came down with their own get-rich madness," the magazine reports. The report profiles both naive investors and greedy brokers. It concludes that this is not "a black-and-white situation of victims and victimizers," but a tale of broken communication between investors and advisers.
The National Law Journal reports on the recent frenzy of lawsuits against mutual fund companies over derivatives. Regulators and Congress are pressing to limit funds' abilities to invest in them. The so-called derivatives debacle has spawned a surge of class actions by the plaintives' securities bar. (Nov. 7, 1994)