News & Analysis as of

Securities Fraud PSLRA Securities Litigation

Katten Muchin Rosenman LLP

SCOTUS Set To Weigh In On the PSLRA’s Heightened Pleading Standards

The Supreme Court will review the Ninth Circuit’s decision in Ohman v. Nvidia Corp., which affirmed in part and reversed in part the district court’s dismissal of claims brought against Nvidia and three of its officers under...more

Morgan Lewis

US Supreme Court Agrees to Review Securities Fraud Pleading Standards

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The US Supreme Court granted certiorari in NVIDIA Corp. v. E. Ohman J:or Fonder AB on June 17, 2024, agreeing to consider the standards for pleading under the federal securities laws that statements are false and made with...more

Troutman Pepper

US Supreme Court to Hear Nvidia Crypto Mining Case on Securities Pleading Standard

Troutman Pepper on

On June 17, the U.S. Supreme Court granted certiorari in Nvidia Corp. v. E. Ohman J:or Fonder AB, agreeing to hear Nvidia’s appeal of a Ninth Circuit ruling that revived shareholders’ fraud claims regarding Nvidia’s...more

Cooley LLP

Ninth Circuit Affirms Dismissal of Securities Fraud Claims, Rejects Allegations as Nothing More Than ‘Interesting Reading’

Cooley LLP on

A recent decision of the US Court of Appeals for the Ninth Circuit highlights the “heightened and demanding standard” required to plead securities fraud under the Private Securities Litigation Reform Act (PSLRA). In affirming...more

Cooley LLP

You might want to think twice before describing pending litigation as “without merit”

Cooley LLP on

There’s definitely a lesson to be learned from this recent case from the Massachusetts Federal District Court, City of Fort Lauderdale Police & Firefighters’ Ret. Sys. v. Pegasystems Inc.: companies making public statements...more

Akin Gump Strauss Hauer & Feld LLP

Ninth Circuit Rejects Heightened State-of-Mind Pleading Requirement for Section 14(e) Claims

Key Points - The 9th Circuit, disagreeing again with the 2nd, 3rd, 5th, 6th, and 11th Circuits, reaffirmed that claims under Section 14(e) of the Exchange Act do not require a showing of scienter. In the 9th...more

A&O Shearman

Northern District Of California Largely Denies Motion To Dismiss Securities Fraud Class Action Against Biopharmaceutical Company

A&O Shearman on

On July 15, 2022, Judge Edward M. Chen of the United States District Court for the Northern District of California largely denied a motion to dismiss a securities fraud class action against a biopharmaceutical company (the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - May 2022

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between February and April 2022. Cryptocurrency Derivative Litigation Fiduciary Duties – Bylaws Material...more

Goodwin

Northern District of Illinois Grants Motion for Partial Reconsideration of Summary Judgment Decision Regarding Whether Former...

Goodwin on

Northern District of Illinois Grants Motion for Partial Reconsideration of Summary Judgment Decision Regarding Whether Former Walgreens CFO’s Statements Were Actionable; Securities Fraud Claims Against Chicken Producer for...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - October 2021

This quarter’s issue of Inside the Courts — An Update From Skadden Securities Litigators includes summaries and associated court opinions of selected cases principally decided in May-August 2021....more

Goodwin

Northern District of California Kicks Shareholder Derivative Suit Against Alphabet, Inc. for Failing to Allege Demand Futility

Goodwin on

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

Proskauer - Corporate Defense and Disputes

Failure to Cruise Past the Pleading Requirements in the Norwegian Cruise Lines Securities Class Action

On April 10, 2021, the United States District Court for the Southern District of Florida dismissed a securities class action complaint against Norwegian Cruise Lines (“NCL”) relating to the company’s disclosures made as the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Securities Litigation and Regulatory Enforcement Update

On December 8, 2020, Skadden held the fourth and final installment of its annual Securities Litigation and Regulatory Enforcement Update, “Developments and Trends in Securities Litigation: A Year-End Update for 2020 and a...more

Stradling Yocca Carlson & Rauth

Ninth Circuit Decision Makes it Harder for Plaintiffs to Plead Securities Fraud Claims Against Drug & Medical Device Companies

On June 10, 2020, the Ninth Circuit, in Vicky Nguyen v. Endologix, Inc., et al., affirmed in a published decision the district court’s dismissal with prejudice of a putative securities fraud class action because plaintiff...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between July and October 2020. Class Certification - Cryptocurrency – Definition of a Security - Derivative...more

Mayer Brown Free Writings + Perspectives

Ninth Circuit Affirms Dismissal in Stock-Drop Lawsuit, Citing Shareholder’s “Implausible” Scienter Theory

On June 10, 2020, the US Court of Appeals for the Ninth Circuit affirmed the dismissal of a putative securities fraud class action against Endologix, Inc., a medical device company, on the grounds that the shareholder’s core...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - April 2020

This issue includes summaries and associated court opinions of selected cases principally decided between October 2019 and January 2020. ...more

King & Spalding

Managing Securities Litigation Risks in a Time of Coronavirus Insecurities

King & Spalding on

Spiraling fears over the coronavirus and the multiplication of virus outbreaks across the globe have impacted the worldwide economy, threatened supply chains, and caused severe stock market declines and disruptions in the...more

A&O Shearman

Middle District Of Florida Dismisses Securities Fraud Action Against Foodservice Equipment Company For Failure To Plead Scienter

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On February 6, 2020, Judge James S. Moody, Jr. of the United States District Court for the Middle District of Florida dismissed a putative class action asserting violations of Section 10(b) of the Securities Exchange Act of...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - December 2018

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between September 2018 and October 2018. ...more

Morris James LLP

Federal District Court Explains PSLRA Requirements For Lead Plaintiff and Counsel

Morris James LLP on

Wigginton v. Advance Auto Parts Inc., CA 18-212 MN (D. Del. November 2, 2018) - This is an excellent review of how the District Court will analyze the requirements of the PSLRA in selecting the lead plaintiff and lead...more

Troutman Pepper

9th Circ. Makes Motions to Dismiss More Difficult in Securities Litigation

Troutman Pepper on

On Aug. 13, a panel of the U.S. Court of Appeals for the Ninth Circuit issued an opinion in a securities fraud class action, Khoja v. Orexigen Therapeutics, No. 16-56069 2018 U.S. App. LEXIS 22371 (9th Cir. Aug. 13, 2018),...more

A&O Shearman

District Of Massachusetts Dismisses Putative Securities Class Action For Failure Adequately To Allege A Material Misstatement Or...

A&O Shearman on

On June 18, 2018, Judge William G. Young of the United States District Court for the District of Massachusetts dismissed with prejudice a putative securities class action against Acacia Communications, Inc. (the “Company”),...more

A&O Shearman

Southern District Of New York Dismisses With Prejudice Putative Securities Fraud Class Action Against Pharmacy Benefits Manager...

A&O Shearman on

On May 22, 2018, Judge Edgardo Ramos of the United States District Court for the Southern District of New York dismissed with prejudice a putative securities fraud class action against pharmacy benefits manager Express...more

A&O Shearman

District Of Massachusetts Dismisses Securities Fraud Allegations For Failure To Adequately Allege Scienter

A&O Shearman on

On March 27, 2018, Judge F. Dennis Saylor IV of the United States District Court for the District of Massachusetts dismissed a putative class action alleging claims under Sections 10(b) and 20(a) of the Securities Exchange...more

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