Archive – The Advocate for Institutional Investors


Summer 2016

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  • "If you ain't Cheating, you ain't Trying!" How Big Finance Continues to Pull the Strings on Global Markets
  • Supreme Court Roundup: A Look at Three of the Court's Recent Decisions and Current Cases and Their Impact on Investors
  • Time Flies for Individual Claims: With the Class Action "Tolling" Doctrine in Jeopardy, Institutional Investors Face New Challenges.
  • All Eyes on the UK: High Impact Cases Work Their Way Through the London High Court
  • The Only Game in Town: Mandatory Arbitration Clauses Severely Restrict Investors' Recovery Options


Summer 2015

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  • The Resurgence of the Activist Investor: Investors are Challenging Entrenched Corporate Boards - and Winning
  • Dispatches from the Battleground: Will Fee-Shifting Bylaws Keep Shareholders from the Courthouse?
  • Sharing Wall Street Style: Second Circuit Narrows Definition of Insider Trading
  • Forging Ahead on Multiple Fronts: From "Broken Windows" Enforcement to Innovative Technologies, the SEC Pursues Several Strategic Initiatives Amid Fractured Leadership
  • A Matter of Opinion?: The Omnicare Decision Will Make it Harder for IPO Issuers to Mask Misrepresentations as Opinion Statements


Fall 2014

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  • Trading at the Speed of Light:  A Look at the Origins of High-Frequency Trading and How it Overtook the Market
  • Picking Investors' Pockets: SEC Scrutiny of Private Equity Firms Reveals Widespread Abuses
  • New Barriers to Shareholder Litigation: Corporations Adopt Fee-Shifting Bylaws in Effort to Undermine Shareholder Rights
  • IndyMac Litigation Update: US Supreme Court Declines to Hear Appeal
  • International Shareholder Litigation: Comparing Outlooks in the US and UK

Summer 2014

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  • Halliburton II: A Triumph for Investors' Rights and Market Integrity
  • Financial Crisis: Why Wall Street Escaped Criminal Prosecutions
  • RMBS Trustees: A Failure to Protect Investors
  • The Deal Professor: A Conversation with NY Times Columnist Steven M. Davidoff
  • VEB v. Deloitte: Class Action Developments in the Netherlands


Fall 2013

Download Issue (PDF | 2.40 M)
European Supplement (PDF | 728.23 K)
  • More Bite, Less Bark at the SEC?: With Fewer No-Admit Settlements, Enforcement May Be Getting New Teeth
  • Social Media and Cyber Security Risk: The Tricky Business of Managing Corporate Disclosures in the Information Age
  • 10b5-1 Trading Plans: Pressure Mounts for Reforms to Curb Insider Trading
  • M&A Litigation and the Institutional Investor Factor: As Lead Plaintiffs, Does Their Leadership Make a Difference?


  • Listed in America: How Investors Respond When Foreign Firms on U.S. Exchanges are Sued for Financial Fraud

Spring 2013

Download Issue (PDF | 2.83 M)
European Supplement (PDF | 783.64 K)
  • Unfinished Business: What's in Store for Financial Reform in the Next Term
  • A Conversation with Harvey Pitt: Former SEC Chair Reflects on the Agency
  • Holding Accountants Accountable: Can Private Litigation Force Auditing Reforms
  • Trouble After the RMBS Bubble: Banks Face a Flood of Civil Litigation
  • Up Against Big Banks, SEC Settles for Less: Banks Have Little to Fear from Weak Enforcement


  • Lessons from London: Boardroom Failures Spur Corporate Governance Reforms
  • Sea Change in the English Courts: Reforms to Litigation Funding in the Wake of the Jackson Report
  • Europe Set to Limit Bank Bonuses


Summer 2012

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  • Locked Out: The Carlyle Group Tries to Bar Investors from Court
  • Martin Act Interpreted: More Options Available for Private Claims
  • "Rakoff Fever" Sweeps the Federal Bench: Courts Challenge SEC's No-Admit Settlements
  • Goldman Cited for Conflicts of Interest: Chancery Court Issues Landmark Ruling in El Paso


  • Converium/SCOR: Dutch Court Further Opens the Door for International Securities Fraud Settlements
  • European Institutions Take Leading Roles in U.S. Securities Litigation


Fall 2011

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  • Government Goes After Insider Trading
  • Dodd-Frank One Year Later...and Still Waiting
  • The Myth of Director Liability: Little Risk for Those at the Top


  • Institutional Investors From Around the World Turn to Direct Suits in U.S.

Spring 2011

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  • Too Big to Fail or Too Big to Challenge? As Wall Street Outmaneuvers the Government, Institutional Investors Fill the Void
  • Rebalancing the System - Institutional Investors Fight for Corporate Governance Reform
  • How Did We Get Here?  Too Much Regulatory Oversight or Not Enough?


  • The Battle to Restore Investor Rights in an Increasingly Global Economy


Fall 2010

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  • Keeping Corporate America Honest: The Cost of Corporate Failure and the Role of the Private Regulator
  • Dodd-Frank: SEC Beefed Up While Investors Gain Little
  • Morrison v. NAB: The Shifting Geography of Investor Protections
  • Subprime Reckoning: Courts Peel Back the Layers of Fraud


  • Share Buybacks in Sweden

Spring 2010

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  • Other People's Money: The Unrealized Conflicts of Securities Lending
  • Ready...Set...Go! Supreme Court to Set the Clock on Statute of Limitations in Merck/Vioxx
  • Finding the Way Back: Reanimating the Spirit of Full Disclosure in our Capital Markets
  • Final Word: Major Victory for Investors


  • Foreign Investors and US Courts: Will the Investor Protection Umbrella Continue to Reach Across Borders?


Fourth Quarter, 2009

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  • Investor Protections: Legislative Efforts to Bring the Balance Back
  • Executive Compensation Reform: The Fed to Have Its Say on Pay
  • The “New”SEC Comes Out Swinging


  • European Reforms In Response to "Kasino-Kapitalismus" -- The Changing Landscape For Institutional Investors In Europe

Third Quarter, 2009

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  • Revisiting the Value of Poison Pills
  • Credit Rating Agency Oversight and Reform
  • SEC Stands with Shareholders on Proxy Access Rules


  • Dutch Decision Makes Inroads Toward Collective Binding Settlements in Europe

Second Quarter, 2009

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  • New Opportunities for Corporate Governance Reform
  • Impact of Recent Delaware Chancery Court Decisions on Investor Rights
  • SEC to End Broker Vote Rule
  • Policy Makers Work to Give Shareholders More Boardroom Power


  • Evolution of Foreign Investors’ Access to US Courts

First Quarter, 2009

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  • Investors Look to New Administration With a Hopeful Eye
  • Carl Icahn: The Need For Corporate Governance Reform
  • The Executive Compensation Problem


  • Impact of Recent "F-Cubed" Decision to Foreign Litigants


Third Quarter, 2008

Download Issue (PDF, 349.67 K)
  • The Impact of Deregulation on Wall Street and the Credit Crisis
  • Alarming Trends in Whistleblower Protection

Second Quarter, 2008

Download Issue (PDF, 430.73 K)
  • Rating Agencies' Role in Credit Crisis
  • SEC Sits on Sidelines During Credit Crisis
  • Collapse of Auction Rate Securities


  • American Securities Class Actions: The Future of European Litigants in U.S. Courts

First Quarter, 2008

Download Issue (PDF, 868.25 K)
  • Lessons from Bear Stearns' Demise
  • Regulatory Underkill on Wall Street
  • Paulson Moves to Sideline SEC
  • What Costs the American Public More …
    Government regulation? Securities litigation? Unrestrained greed?


Fourth Quarter, 2007

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  • Silence is Golden: Stoneridge Decision Deals a Blow to Investors' Scheme Liability Claims
  • The SEC Pulls the Rug out From Under Investors
  • The Fingerprints of Fraud in the Mortgage Mess
  • Wall Street, Heel Thyself: Put a Leash on Runaway Exec Pay!

Third Quarter, 2007

Download Issue (PDF, 984.39 K)
  • To Scheme or Not to Scheme
  • Debating "Scheme" Liability
  • GOA Report Finds SEC Routinely Mothballs Fraud Investigations

Second Quarter, 2007

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  • Insulating Corporate America from Accountability
  • The Fight to Keep America's Capital Markets Fair and Transparent
  • SEC: Friend or Foe
  • Tellabs: The Supreme Court Decision

First Quarter, 2007

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  • Fewer Securities Class Action Filed in 2006 - Permanent Decline, Part of a Cycle, or Random Variation?
  • The SEC Flip-Flops at Supreme Court, Betraying Investors


Third Quarter, 2006

Download Issue (PDF, 533.62 K)
  • The Committee on Capital Markets Regulation...a Wolf in Sheep's Clothing?
  • The Corporate End Run (Editorial Reprinted w/Permission of The New York Times)

Second Quarter, 2006

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  • Mirror, Mirror On The Wall, Give Me The Lowest Price Of All (Corporate Greed Redux)
  • Contesting Attorneys' Fees In Class Actions: A Public Pension Fund Fiduciary Responsibility

First Quarter, 2006

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  • From Academia to the Private Sector: A Discussion With Professor Elliott Weiss
  • When Less is More, and When It's Not: The SEC Proposed Rule on Executive Compensation
  • Making Sure the Dice Aren't Loaded: Market Efficiency and the Fraud-on-the-Market Theory in Securities Class Actions


Fourth Quarter, 2005

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  • Congress, The SEC and Private Litigation: Mending Corporate America
  • Mediating Securities Class Actions: A View From the Captain's Quarters

Third Quarter, 2005

Download Issue (PDF, 269.25 K)
  • WORLDCOM: How A Ground-Breaking Litigation Altered The Legal Landscape For Large Securities Class Actions And Forced Wall Street To Forever Change Its Ways

Second Quarter, 2005

Download Issue (PDF, 156.50 K)
  • Fiduciaries Beware: Big Business Wants to Roll Back New Investor Protections
  • Institutional Investor Recovery - Do You Need Help?

First Quarter, 2005

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  • The (Hard) Times They Are A Changin'
  • Beyond Criminal Prosecutions: Making "Gatekeepers" Do Their Jobs


Fourth Quarter, 2004

Download Issue (PDF, 265.65 K)
  • The Origins of the Securities Laws

Third Quarter, 2004

Download Issue (PDF, 161.23 K)
  • Just A Friendly Group of "Independent" Directors
  • Corporate Boards...or Social Clubs?
  • A New Public (But Very Private) Watchdog: The Public Company Accounting Oversight Board Issues Its First Reports

Second Quarter, 2004

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  • The Plight of The Minimum Wage CEO
  • The Results Are In...Class Action Settlements Are Significantly Higher When Institutional Investors Act As Lead Plaintiffs

First Quarter, 2004

Download Issue (PDF, 154.02 K)
  • Institutional Investors Take Back The Street
  • Shining Light On the Practices of Pension Fund Consultants: Who Are They Really Serving?


Fourth Quarter, 2003

Download Issue (PDF, 413.63 K)
  • The Mutual Fund Scandal: Is There No Longer Any Shelter From The Storm?
  • Memo To Mutual Funds: It's All About Trust

Third Quarter, 2003

Download Issue (PDF, 169.61 K)
  • The HCA Derivative Litigation: A Study On Achieving Corporate Governance Reform Through Shareholder Litigation

Second Quarter, 2003

Download Issue (PDF, 154.24 K)
  • As The Ink Dries, Wall Street Follies Continue
  • The Public Company Accounting Oversight Board: Off And Running (Finally!)

First Quarter, 2003

Download Issue (PDF, 182.68 K)
  • Your Portfolio Has Been Hurt By A Securities Fraud...Now What?


Third Quarter, 2002

Download Issue (PDF, 146.69 K)
  • Fundamental Causes Of Accounting Debacles: Show Me Where It Says I Can't
  • Civil Litigation Impact Of The New Corporate Fraud Legislation

Second Quarter, 2002

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  • A Defense Counsel's Perspective - After Six Years The Jury Is Still Out On The PSLRA
  • Reforming the Reform Act And Saving Our Securities Markets

First Quarter, 2002

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  • Congratulations To Arthur Andersen: Why Self-Regulation Of The Accounting Industry Doesn't Work
  • Look Before You Leap - What Enron Can Teach Potential Lead Plaintiffs


Fourth Quarter, 2001

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  • Leaving Money On The Table - Are You Collecting On Your Claims?
  • Class Actions - Compensating Victims And Deterring Wrongdoing

Third Quarter, 2001

Download Issue (PDF, 170.05 K)
  • Selecting Lead Counsel In the Midst of Judicial Chaos
  • Does "Buy" Really Mean "Sold Out"?

Second Quarter, 2001

Download Issue (PDF, 141.48 K)
  • Deciding When To Serve As Lead Plaintiff: A Seasoned Perspective
  • Institutional Investors Persevere In Columbia/HCA Derivative Litigation

First Quarter, 2001

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  • Putting Your Mouth Where Your Money Is: Institutional Investor Activism And The Experiences Of The New York State Common Retirement Fund
  • The Tide Turns: Institutional Investor Score Big In Delaware State Court


Fourth Quarter, 2000

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  • My Experience As Lead Plaintiff
  • Auditor Independence: Fact or Fiction?

Third Quarter, 2000

Download Issue (PDF, 138.50 K)
  • Pension Fund Professionals And Trustees Need Continuing Education To Properly Fulfill Their Fiduciary Responsibilities
  • Pension Fund Professionals Create A National Organization And Education Certification Program
  • Big Browser is Watching You - How Institutional Investors Can Do Well By Doing Good On The Privacy Front

Second Quarter, 2000

Download Issue (PDF, 191.16 K)
  • An End To Mickey Mouse Corporate Governance - Institutional Investors Lead The Way
  • Corporate Auditors Under Siege
  • Courts Prohibit Misleading Solicitation Of Class Members

January, 2000

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  • Mass Solicitations Dupe Institutional Investors

First Quarter, 2000

Download Issue (PDF, 141.68 K)
  • In Re Cendant: The Dawning Of A New Age


Fourth Quarter, 1999

Download Issue (PDF, 421.78 K)
  • Cracking Cracker Barrel...The 1998 Amendments to the Shareholder Proposal Rule
  • Having Your Cake and Eating It Too...or Recovering Costs And Expenses Incurred While Serving As Lead Plaintiff

Third Quarter, 1999

Download Issue (PDF, 222.34 K)
  • Aggregation...Do Too Many Cooks Spoil The Broth?
  • Insider Trading...They Know Something You Don't

Second Quarter, 1999

Download Issue (PDF, 165.30 K)
  • Disclosure Issues For The Year 2000: Truth...Or Consequences?
  • Accounting Fraud In Public Companies Is More Prevalent Than Ever: Where Is The Audit Committee?

First Quarter, 1999

Download Issue (PDF, 138.10 K)
  • Institutional Investors as Lead Plaintiffs: Is There A New And Changing Landscape?
  • The Battle Over Options Repricing: Investors Take the Offensive