News & Analysis as of September 17, 2024

Material Misstatements

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The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +

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Southern District Of New York Declines To Dismiss Putative Class Action Against Financial Institution Regarding Alleged...

A&O Shearman on 3/29/2024

On February 23, 2024, Judge Katherine Polk Failla of the United States District Court for the Southern District of New York largely denied a motion to dismiss a putative class action asserting claims under the Securities...more

Fourth Circuit Affirms Dismissal Of Securities Fraud Class Action Against Cancer Drug Manufacturer For Failure To Allege False Or...

A&O Shearman on 3/30/2023

On March 2, 2023, the United States Court of Appeals for the Fourth Circuit affirmed the dismissal of a putative securities class action against a company that manufactures cancer drugs (the “Company”), its president and CEO,...more

California District Court Grants Motion To Dismiss Securities Class Action Against Hearing Aid Company, Finding Plaintiffs Failed...

A&O Shearman on 3/3/2023

On February 14, 2023, Judge Charles R. Breyer of the United States District Court for the Northern District of California granted a motion to dismiss a putative securities class action alleging that a hearing aid company (the...more

California District Court Grants With Prejudice Motion To Dismiss Securities Fraud Class Action Against Video Game Company,...

A&O Shearman on 2/7/2023

On January 22, 2023, Judge Percy Anderson of the United States District Court for the Central District of California granted a motion to dismiss the third amended class action complaint (“TAC”) in a putative class action...more

District Court Of Massachusetts Denies Communications Infrastructure Company’s Motion To Dismiss Finding Plaintiffs Adequately...

A&O Shearman on 11/2/2022

On October 20, 2022, Judge George A. O’Toole, Jr. of the United States District Court for the District of Massachusetts (the “Court”) denied a motion to dismiss a putative securities class action against a business...more

Northern District Of California Dismisses Without Prejudice Putative Class Action Against Synthetic Biology Company For Failure To...

A&O Shearman on 6/7/2022

On May 31, 2022, Judge Beth Labson Freeman of the Northern District of California dismissed without prejudice a putative class action asserting claims under the Securities Exchange Act against a synthetic biology company and...more

Northern District Of California Finds Scienter And Individual Reliance Adequately Pleaded, But Stresses That Issues Respecting...

A&O Shearman on 9/18/2018

On September 7, 2018, Judge Charles Breyer of the United States District Court for the Northern District of California denied a motion to dismiss a second amended putative class action complaint on behalf of Volkswagen...more

Northern District Of California Partially Dismisses Securities Claims For Failure To Sufficiently Allege Misstatements And Control...

A&O Shearman on 7/11/2017

On June 28, 2017, Judge Charles R. Breyer of the United States District Court for the Northern District of California ruled, among other things, that allegations of knowledge of “defeat devices” did not equate to knowledge of...more

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Securities Exchange Act › Control Person › Material Misstatements

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