The U.S. Supreme Court has agreed to hear appeals of the Ninth Circuit’s decisions in the Facebook and NVIDIA putative securities class action cases. Our Securities Litigation Group breaks down the potentially far-ranging...more
Last week, the United States Supreme Court granted certiorari in NVIDIA Corp. v. E. Ohman J:Or Fonder AB., Case No. 23-970, to address two fundamental questions about how federal securities fraud cases must be pled to survive...more
Key Points - - A divided Ninth Circuit panel held that a shareholder plaintiff could rely on an expert’s after-the-fact analysis of public information to allege that a company’s public statements were false or misleading...more
On January 12, 2015, the U.S. Court of Appeals for the Second Circuit held in Stratte-McClure v. Morgan Stanley that a failure to make a required disclosure under Item 303 of Regulation S-K in a Quarterly Report on Form 10-Q...more
Matt Levine is a big jerk. He just sits there at Bloomberg following events in finance and securities enforcement, and then writes interesting things about those events really quickly and with insight that no one else has...more
Earlier today, the Second Circuit Court of Appeals issued its most significant ruling in an insider trading case in more than a decade. That opinion is available here. The Second Circuit vacated the criminal convictions of...more
The United States Court of Appeals today reversed the convictions for insider trading of Todd Newman and Anthony Chiasson. The Court held that the government was required to prove, but did not, that the defendants knew that...more