On June 1, 2023, the United States Supreme Court issued a unanimous opinion that makes it more difficult for shareholders to bring Section 11 claims against companies that go public via direct listings. The case involved a...more
7/26/2023
/ Bylaws ,
Civil Monetary Penalty ,
Corporate Governance ,
Derivative Suit ,
Direct Listing ,
Forum Selection ,
Gap Inc ,
Insider Trading ,
Market Manipulation ,
Phantom Stock Plans ,
Private Equity Firms ,
SCOTUS ,
Section 11 ,
Section 12 ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Shareholder Litigation ,
Slack
On March 31, 2023, U.S. District Judge Ronnie Abrams of the Southern District of New York dismissed a putative securities class action against CarLotz, Inc. (CarLotz), and certain of its officers and directors on the grounds...more
5/26/2023
/ Board of Directors ,
Class Action ,
Conflicts of Interest ,
Corporate Officers ,
Cryptocurrency ,
False Statements ,
Fraud ,
Initial Public Offering (IPO) ,
Misleading Statements ,
Pump and Dump ,
Putative Class Actions ,
Securities ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Shareholders ,
Special Purpose Acquisition Companies (SPACs) ,
Standing ,
Statute of Limitations
On February 22, 2023, U.S. District Judge Victor Marrero of the Southern District of New York denied a motion to dismiss a putative class action brought by purchasers of a non-fungible token (NFT) against Dapper Labs, Inc....more
3/29/2023
/ 10b5-1 Plans ,
Antitrust Litigation ,
Bitcoin ,
Caremark claim ,
Criminal Prosecution ,
Derivative Suit ,
Facebook ,
Federal Trade Commission (FTC) ,
Fiduciary Duty ,
Howey ,
Insider Trading ,
McDonalds ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Putative Class Actions ,
Securities ,
Sexual Harassment
On February 1, 2023, Judge Paul A. Engelmayer of the Southern District of New York dismissed claims against Coinbase Global Inc. (Coinbase) and its CEO in a case alleging that the crypto exchange sold or solicited...more
In an opinion entered in the case on January 3, 2023, U.S. District Judge Raag Singhal of the Southern District of Florida dismissed with prejudice a putative securities class action complaint against Citrix Systems, Inc....more
1/18/2023
/ 10b5-1 Plans ,
Business Model ,
Corporate Officers ,
Derivative Suit ,
Dismissals ,
False Statements ,
Opioid ,
Putative Class Actions ,
Regulation S-K ,
Rule 10(b) ,
Scienter ,
Securities Litigation ,
Shareholder Litigation ,
Shareholders ,
Stock Prices
On September 27, 2022, U.S. District Judge Kevin McNulty of the District of New Jersey dismissed a consolidated derivative action allegedly brought on behalf of Cognizant Technology Solutions Corporation against certain...more
11/3/2022
/ Administrative Hearings ,
Caremark claim ,
Class Action ,
Compliance ,
Constitutional Challenges ,
Cooperation ,
Department of Justice (DOJ) ,
Derivative Suit ,
Foreign Corrupt Practices Act (FCPA) ,
Indictments ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Litigation ,
Shareholder Litigation ,
Shareholders
On September 29, 2022, U.S. District Judge Edgardo Ramos of the Southern District of New York dismissed a putative securities class action against Plug Power Inc. and certain of its officers. Plaintiff brought suit...more
10/20/2022
/ Auditors ,
Class Action ,
Dismissals ,
Elon Musk ,
Financial Restatements ,
Financial Statements ,
PCAOB ,
Putative Class Actions ,
Rule 10(b) ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
Securities Litigation ,
Shareholder Litigation ,
Twitter