News & Analysis as of

Motion to Dismiss Disclosure Requirements

Holland & Knight LLP

Court in SolarWinds Case Blows Down SEC's Cyber Enforcement Authority

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The U.S. District Court for the Southern District of New York on July 18, 2024, dismissed most of the SEC's landmark cyber enforcement litigation against SolarWinds Corp. (SolarWinds or the Company) and the Company's Chief...more

Jenner & Block

Client Alert: Key Takeaways from the Motion to Dismiss Ruling in SEC v. SolarWinds et al.

Jenner & Block on

The SEC’s high-profile litigation against SolarWinds and its Chief Information Security Officer (CISO), Timothy G. Brown, reached a critical turning point on July 18, 2024, when a district court in the Southern District of...more

Jenner & Block

Client Alert: Takeaways from SEC v. SolarWinds Motion to Dismiss Hearing

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The SEC’s high-profile litigation against SolarWinds and its Chief Information Security Officer (CISO), Timothy Brown, reached a critical juncture on May 15, 2024, when the parties presented oral arguments before Judge Paul...more

Skadden, Arps, Slate, Meagher & Flom LLP

In Novel SPAC Ruling, Court Questions Fundamental SPAC Structure Under Delaware Law

With all the SPAC activity and scrutiny over the past several years, it was only a matter of time before the Delaware courts had an opportunity to weigh in on SPAC stockholder litigation. Early last year, in January...more

Mintz - Securities & Capital Markets...

Caremark Liability Following the SEC’s New ESG Reporting Requirements

Recent developments in the Court of Chancery concerning a corporate board’s duty to monitor and provide oversight over a corporation’s operations, so-called Caremark claims, are likely to intersect with the Securities and...more

Manatt, Phelps & Phillips, LLP

Key Takeaways From the Gray v. Dignity Health Decision

On October 13, 2021, the California Court of Appeal, 1st District in San Francisco issued its opinion in Gray v. Dignity Health, 2021 WL 4771982. In a published decision that will likely control the outcome in at least six...more

Jones Day

Recent Developments in Shareholder Derivative Litigation Concerning Diversity in Corporate Leadership

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The Situation: A number of shareholder derivative lawsuits in federal court have been filed seeking to hold directors and officers of major companies accountable for alleged failures to uphold their companies' stated...more

BCLP

Delaware Court of Chancery Again Declines to Dismiss a Caremark Oversight Failure Claim

BCLP on

On April 27, 2020, the Delaware Court of Chancery for the third time in a year denied a motion to dismiss a Caremark claim. The case, Hughes v. Hu, involves a derivative claim against the audit committee and officers of a...more

Dorsey & Whitney LLP

The Importance of Full Disclosure

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Directors and officers of corporations owe a duty of care and a duty of loyalty to both the corporation and its shareholders, although the duty of care for directors can be exculpated. A breach of these fiduciary duties can...more

Stinson - Corporate & Securities Law Blog

Chancery Finds General Counsel Potentially Liable for Misleading Tender Offer Documents

Morrison v. Berry considers Plaintiff’s claims for damages following the purchase of a grocery-store chain, The Fresh Market, Inc. (“Fresh Market” or the “Company”) by Apollo investment entities. The Plaintiff was a former...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - September 2019

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between May and August 2019....more

Polsinelli

Disclosures Still Important: Delaware Court of Chancery Assesses Adequacy of Proxy Disclosures in Rejecting Pleading-Stage...

Polsinelli on

Disclosure-based strike suits have died an inglorious and richly-deserved death in Delaware. Lest deal practitioners and their clients be lulled into a false sense of security, recent decisional law drives home the point...more

Skadden, Arps, Slate, Meagher & Flom LLP

Examining Corwin: Latest Trends and Results

The Delaware Supreme Court’s 2015 decision in Corwin v. KKR Financial Holdings LLC1 fashioned a powerful defense in post-closing money damages cases for boards of directors by finding that business judgment deference applies...more

Skadden, Arps, Slate, Meagher & Flom LLP

Delaware Corporation Law: Trends Impacting M&A and Corporate Litigation in 2019

On February 20, 2019, Skadden held a webinar titled “2019 M&A and Corporate Litigation Trends.” The panelists were litigation partner and Delaware litigation practice leader Edward Micheletti and litigation counsel Jenness...more

Womble Bond Dickinson

Eastbound, but not out. Loaded up but not trucking.

Womble Bond Dickinson on

In Luna v. Wal-Mart Trans., LLC, 2018 WL 5726204 (W.D. Ark. Nov. 1, 2018), the Court provided a good reminder that there are exceptions to the FCRA’s “stand-alone” disclosure requirement. Under the facts of the case,...more

Akin Gump Strauss Hauer & Feld LLP

Developments in Cryptocurrency in 2018

• The U.S. Securities and Exchange Commission (SEC) staff made official statements regarding when a token may or may no longer be a security • The SEC continued to bring actions related to cryptocurrency offerings against...more

Ballard Spahr LLP

Third Circuit: Debt Collector’s “True Name” FDCPA Violation Did Not Violate Other FDCPA Provisions

Ballard Spahr LLP on

The U.S. Court of Appeals for the Third Circuit has ruled that although the plaintiffs had plausibly alleged facts stating a claim that a debt collector had violated the Fair Debt Collection Practices Act (FDCPA) by not using...more

Patterson Belknap Webb & Tyler LLP

Third Circuit Enforces Plan Releases Against Later-Purchasing Shareholders Bringing Claims Concerning Post-Confirmation Conduct

Bankruptcy plans often include provisions releasing debtors and their officers and directors from certain potential liability. In Zardinovsky v. Arctic Glacier Income Fund, No. 17-2522 (3d Cir. Aug. 20, 2018), the United...more

Sheppard Mullin Richter & Hampton LLP

You Might Be an Inside Trader If…You Trade on Your Unconfirmed Suspicions of a Cybersecurity Event Prior to Its Public Revelation...

Earlier this year, the SEC released cybersecurity guidance addressing, among other things, the risk of insider trading in the event of a data breach. This risk comes in multiple forms, including the intruders trading on...more

Littler

Employers Prevail in FCRA Class Actions

Littler on

The FCRA is not a classic employment law, but regulates the procurement and use of background checks by employers. Before procuring a background check from a consumer reporting agency (CRA), the employer must disclose its...more

Carlton Fields

Illinois District Court Dismisses Case Filed By Insurance Department, As Rehabilitator, Against Reinsurer

Carlton Fields on

The District Court for the Northern District of Illinois dismissed a complaint filed by Plaintiff-Rehabilitator, the Illinois Director of Insurance, against Defendant-Reinsurer, Twin Rivers, alleging breach of contract,...more

Proskauer Rose LLP

ERISA Newsletter - Third Quarter 2017

Proskauer Rose LLP on

Editor's Overview - As we have observed on other occasions, the ERISA class action plaintiffs' bar has, for several years now, honed in on 401(k) plan fiduciaries and their decisions to select and retain investment options...more

Smith Debnam Narron Drake Saintsing & Myers,...

Seventh Circuit Holds Voice Mail Message Is A Communication

The Seventh Circuit has held that a voice mail message left for a consumer is a “communication” under the FDCPA. In Hart v. Credit Control, LLC, 2017 U.S. App. LEXIS 18375 (11th Cir. Sept, 22, 2017), the debt collector left...more

Burr & Forman

Eleventh Circuit: Voicemail Constitutes Communication Under the FDCPA, But Disclosure of Individual’s Identity Is Not Required

Burr & Forman on

In a case of first impression, the Eleventh Circuit recently held that a voicemail constitutes a “communication” under the FDCPA, and can thus trigger the mini-Miranda requirement, but an individual collecting on behalf of a...more

Smith Debnam Narron Drake Saintsing & Myers,...

Mortgage Servicer’s Transfer Notice Violates FDCPA

Mortgage servicers need to carefully review their Transfer Notices when the debt is in default at the time of transfer. In an unpublished decision, the Eastern District of New York recently held that a “Notice of Servicing...more

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