News & Analysis as of

Securities Litigation Federal Rules of Civil Procedure

Skadden, Arps, Slate, Meagher & Flom LLP

Seventh Circuit Decision Outlines Framework To Allow Courts To Evaluate Individual Mootness Fees in Merger Challenge Lawsuits

The U.S. Court of Appeals for the Seventh Circuit in Jorge Alcarez, et al. v. Akorn Inc., et al. mapped out one means by which a court may evaluate mootness fees paid to individual shareholders after the voluntary dismissal...more

A&O Shearman

Third Circuit Holds That The PSLRA Mandates Sanctions For Violations Of Rule 11 Of The Federal Rules Of Civil Procedure

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On April 5, 2023, the United States Court of Appeals for the Third Circuit affirmed a determination of the United States District Court for the District of Delaware that plaintiffs violated Rule 11 of the Federal Rules of...more

Allen Matkins

The Fifth Circuit Sides With Justinian and Blackstone

Allen Matkins on

As has been widely reported, the Fifth Circuit Court of Appeals this week addressed the legal status of the administrative courts of the Securities and Exchange Commission.  In short, the Court held...more

Patterson Belknap Webb & Tyler LLP

The U.S. Supreme Court Clarifies the Standards and Proof Required to Meet the Reliance Element of a Securities Fraud Claim

On June 21, 2021, the Supreme Court issued an opinion by Justice Barrett on the reliance element of a securities fraud claim. In a unanimous portion of her opinion (the “Decision”), Justice Barrett held that courts may...more

Goodwin

SCOTUS Grants Certiorari to Decide Whether Automatic Discovery Stay Applies to Securities Act Cases in State Court

Goodwin on

SCOTUS Grants Certiorari to Decide Whether Automatic Discovery Stay Applies to Securities Act Cases in State Court; Delaware Court of Chancery Dismisses Stockholder Suit Against FedEx for Failure to Make Pre-Litigation...more

Goodwin

Federal Reserve Hints at Government-Backed Cryptocurrency

Goodwin on

Federal Reserve Hints at Government-Backed Cryptocurrency; Third Circuit Affirms Dismissal of Securities Fraud Class Action Against Shutterfly Inc. Regarding Allegedly Misleading Financial Projections; Ninth Circuit Holds...more

A&O Shearman

Southern District Of New York Denies Motion To Revive Exchange Act Claims Against Underwriter Of Regulation A+ Offering, Based On...

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On November 15, 2019, Judge Denise Cote of the United States District Court for the Southern District of New York denied a motion seeking to revive claims under the Securities Exchange Act of 1934 against the underwriter of a...more

A&O Shearman

State Court Stays Discovery Under The PSLRA During Pendency Of Motion To Strike

A&O Shearman on

On May 15, 2019, Judge Charles T. Lee of the Connecticut Superior Court at Stamford granted a protective order staying discovery pending a motion to strike in an action alleging violations of the Securities Act of 1933 (the...more

Bass, Berry & Sims PLC

Chris Lazarini Examines When Scheduling Order May be Modified

Bass, Berry & Sims attorney Chris Lazarini examined a Madoff Trustee’s case in which defendants sought to modify their Scheduling Order to allow them to take discovery of supplemental matters identified in the Trustee’s...more

Bass, Berry & Sims PLC

Chris Lazarini Discusses Application of Plain Error Doctrine

Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini discussed a case involving the court’s application of the plain error doctrine to reverse and remand a trial court’s order vacating a default judgment. The plain error doctrine is...more

A&O Shearman

Northern District Of California Certifies Class In Securities Stock Drop Suit, Finding That "In-and-Out" Traders Should Not Be...

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On July 17, 2018, Judge Jon S. Tigar of the United States District Court for the Northern District of California granted plaintiffs’ motion to certify a class in a securities class action against Twitter, Inc. (the “Company”)...more

A&O Shearman

Northern District Of California Certifies Class In Securities Stock Drop Suit, Finding That "In-and-Out" Traders Should Not Be...

A&O Shearman on

On July 17, 2018, Judge Jon S. Tigar of the United States District Court for the Northern District of California granted plaintiffs’ motion to certify a class in a securities class action against Twitter, Inc. (the “Company”)...more

A&O Shearman

Central District Of California Certifies Class In Securities Stock Drop Action Against Restaurant Chain, Finding Insider Trades...

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On July 3, 2018, Judge David O. Carter of the United States District Court for the Central District of California granted plaintiffs’ motion to certify a class in a securities fraud action against Tex-Mex restaurant chain El...more

A&O Shearman

First Circuit Affirms Dismissal Of Putative Securities Class Action, Finding Public Disclosures Precluded Any Finding Of Intent To...

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On May 12, 2017, the United States Court of Appeals for the First Circuit affirmed the dismissal of a putative securities class action against biopharmaceutical company Biogen Inc. and three of its officers. In Re: Biogen...more

Mintz - Securities Litigation Viewpoints

LendingClub Update: Class Plaintiffs Claim Defendants Are “Arguing Facts” on a Motion to Dismiss

We have been keeping up with the In re LendingClub Securities Litigation class action, No. 3:16-cv-02627-WHA in the Northern District of California (“LendingClub”), in regard to Judge William Alsup’s unusual decision to...more

Cadwalader, Wickersham & Taft LLP

The SEC Retains its House Advantage During Administrative Proceedings

Amendments to the Rules of Practice Do Little to Address Criticism that the Deck is Stacked - Facing pressure from industry practitioners and in the wake of constitutional challenges in multiple jurisdictions, the...more

Skadden, Arps, Slate, Meagher & Flom LLP

"2015-16 Supreme Court Update"

In its current term, the U.S. Supreme Court is once again poised to address a range of disputes relevant to businesses. These include significant constitutional issues, class action practice and other procedural matters, and...more

Burr & Forman

Important Changes To The Federal Rules Are Almost Here

Burr & Forman on

On December 1, 2015, amendments to the Federal Rules of Civil Procedure adopted by the United States Supreme Court will be effective (absent action by Congress). The amendments to the Rules should be duly noted by litigation...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Inside the Courts: Sweeping Changes Proposed to the Federal Rules of Civil Procedure"

Significant amendments to the Federal Rules of Civil Procedure submitted to Congress in April 2015 could change discovery practices in securities litigation before the end of this year. Absent legislation to reject, modify or...more

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