We are pleased to present Inside the Courts (Volume 4, Issue 1), Skadden's securities litigation newsletter. This issue includes summaries and associated court opinions of selected noteworthy cases — principally decided from October to December 2011 — addressing developing trends in the areas of, among others, directors and directors’ duties, the Foreign Corrupt Practices Act, courts’ interpretations of Janus, loss and transaction causation, SEC enforcement, Securities Act claims, securities fraud pleading standards, and statutes of limitations and repose from federal courts in the Second, Third, Fifth, Seventh, Ninth and District of Columbia Circuits, as well as from the Delaware Supreme Court and Delaware Court of Chancery. As we embark on our fourth year of publishing this newsletter, we hope that you continue to find it informative and timely. As always, we welcome feedback and suggestions so we can further enhance its utility and benefit to you.