Delaware Court of Chancery Declines to Dismiss Investment Firm from Stockholder Derivative Suit; Delaware Chancery Court Dismisses Majority of Claims Alleging that California Biotech Firm Profited from Nonpublic Information...more
12/23/2021
/ Aiding and Abetting ,
Bad Faith ,
Biotechnology ,
Board of Directors ,
Breach of Duty ,
Class Action ,
Conflicts of Interest ,
Coronavirus/COVID-19 ,
Derivative Suit ,
Dismissals ,
False Statements ,
Fiduciary Duty ,
Investment Firms ,
Investors ,
Misleading Statements ,
Motion to Dismiss ,
Non-Public Information ,
Proxy Statements ,
Publicly-Traded Companies ,
Scienter ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Securities Violations ,
Shareholders ,
Stock Prices ,
Unjust Enrichment ,
Vaccinations
Delaware Federal Court Dismisses Shareholder Derivative Suit Concerning Lack of Board Diversity; California Federal Court Dismisses Shareholder Class Action Against Sorrento Therapeutics Regarding COVID-19 Treatment; Delaware...more
12/23/2021
/ Board of Directors ,
Cannabis-Related Businesses (CRBs) ,
Class Action ,
Coronavirus/COVID-19 ,
Derivative Suit ,
Discovery ,
Discovery Violations ,
Dismissals ,
Diversity ,
False Statements ,
Investment Fraud ,
Investors ,
Misleading Statements ,
Misrepresentation ,
Pharmaceutical Industry ,
Popular ,
Putative Class Actions ,
Rule 10b-5 ,
Scienter ,
Securities Exchange Act of 1934 ,
Securities Violations ,
Shareholder Litigation ,
Shareholders
Northern District of California Kicks Shareholder Derivative Suit Against Alphabet, Inc. For Failing to Allege Demand Futility; Rare Securities “Holder’s Claim” Trial Results in Jury Verdict for Defendants; Delaware Court of...more
8/17/2021
/ Appeals ,
Board of Directors ,
Breach of Duty ,
Demand Futility ,
Derivative Suit ,
Discovery ,
Dismissals ,
False Statements ,
Fiduciary Duty ,
Investors ,
Jury Verdicts ,
McDonalds ,
Misleading Statements ,
Motion to Amend ,
PSLRA ,
Putative Class Actions ,
Race Discrimination ,
Remand ,
Securities Fraud ,
Securities Litigation ,
Securities Violations ,
Sexual Harassment ,
Shareholder Litigation ,
Shareholders ,
Unjust Enrichment
Delaware Court of Chancery Awards Attorneys’ Fees After Gilead’s “Glaringly Egregious” Litigation Conduct; S.D.N.Y Grants Plaintiffs’ Partial Summary Judgment in Securities Class Action Against Perrigo; SPAC Investors Launch...more
7/29/2021
/ Acquisitions ,
Attorney's Fees ,
Board of Directors ,
Books & Records ,
Class Action ,
Delaware General Corporation Law ,
Dismissals ,
Failure To Disclose ,
Failure To State A Claim ,
False Statements ,
Information Requests ,
Initial Public Offering (IPO) ,
Investors ,
Misleading Statements ,
Misrepresentation ,
Omissions ,
Partial Summary Judgments ,
Publicly-Traded Companies ,
Putative Class Actions ,
Section 220 Request ,
Securities Act of 1933 ,
Securities Exchange Act of 1934 ,
Securities Litigation ,
Securities Violations ,
Shareholders ,
Short Selling ,
Special Purpose Acquisition Companies (SPACs)
In Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System, the U.S. Supreme Court answered two important questions regarding the standards that govern class certification in securities fraud actions, affirming the...more
6/25/2021
/ Arkansas Teacher Retirement System v Goldman Sachs Group ,
Basic v Levinson ,
Burden of Persuasion ,
Burden of Proof ,
Class Action ,
Class Certification ,
Conflicts of Interest ,
Goldman Sachs ,
Investors ,
Presumption of Reliance ,
SCOTUS ,
Securities Exchange Act ,
Securities Litigation ,
Shareholders
In a decision that will have significant implications for M&A litigation involving Massachusetts corporations, on March 6, the Massachusetts Supreme Judicial Court held that a shareholder challenge to a proposed merger...more