Lane Powell PC - Securities / D&O Discourse

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Firm Profile: Lane Powell PC
1420 Fifth Avenue, Ste. 4200
P.O. Box 91302
Seattle, WA 98111-1302, United States
Contact: Douglas Greene, Co-Chair
Phone: 800.426.5801
Fax: 206.223.7107
Areas of Practice
  • Class Action
  • Finance & Banking
  • Mergers & Acquisitions
  • Securities Law
Locations
Other U.S. Locations
  • Washington
Number of Attorneys
100+ Attorneys

First Circuit Affirms Dismissal of Biogen Investors’ Claims, Finding a Lack of “Connecting Detail,” in In re Biogen Inc. Securities Litigation, 857 F.3d 34 (May 12, 2017)

In this putative class action, investors alleged that Biogen executives misled the public about the impact on sales of the company’s multiple sclerosis drug Tecfidera after one patient’s death. Plaintiffs alleged violations of…more
 /  Business Organizations, Civil Procedure, Securities Law

Ninth Circuit Extends American Pipe Tolling to Subsequent Class Actions in Resh v. China Agritech, Inc. (May 24, 2017)

Overruling (or, at least, creatively re-characterizing) its own precedent, the Ninth Circuit held in Resh v. China Agritech, Inc., — F.3d —-, 2017 WL 2261024 (9th Cir. May 24, 2017), that the pendency of an earlier uncertified…more
 /  Civil Procedure, Insurance, Securities Law

Wrap-up: “Who is Winning the Securities Class Action War—Plaintiffs or Defendants?”

I am grateful for the enthusiastic feedback I’ve received on my three-part blog post “Who is Winning the Securities Class Action War—Plaintiffs or Defendants?” I especially appreciate the time Kevin LaCroix took to write a post…more
 /  Business Organizations, Civil Procedure, Insurance, Securities Law

Ninth Circuit Applies Omnicare Standard for Pleading False Statements of Opinion to Section 10(b) Claims, in City of Dearborn Heights v. Align Technology (May 5, 2017)

In a matter of first impression in the Ninth Circuit, the court applied the Supreme Court’s Omnicare standard for pleading the falsity of a statement of opinion to a Section 10(b) claim in City of Dearborn Heights Act 345 Police…more
 /  Civil Procedure, Insurance, Mergers & Acquisitions, Securities Law

Who Is Winning the Securities Class Action War—Plaintiffs or Defendants? (Part III)

This is the third of a three-part post that analyzes why plaintiffs are winning the securities class action war and what defendants can do about it…more
 /  Business Organizations, Civil Procedure, Commercial Law & Contracts, Insurance, Securities Law

Who is Winning the Securities Class Action War—Plaintiffs or Defendants? (Part II)

This is the second of a three-part post evaluating who is winning the securities class action war. Part I explained that this war is not just a scorecard of wins and losses, but rather a fight for strategic positioning—about…more
 /  Business Organizations, Civil Procedure, Insurance, Securities Law

Who is Winning the Securities Class Action War—Plaintiffs or Defendants?

The securities class action war is about far more than the height of the pleading hurdles plaintiffs must clear, the scorecard of motions to dismiss won and lost, or median settlement amounts. It is a fight for strategic…more
 /  Civil Procedure, Insurance, Securities Law

First Circuit Holds that Scienter Requires Knowledge That Non-Disclosure Risked Misleading Investors, Not Just Knowledge of Omitted Facts, in Brennan v. Zafgen, Inc. (April 7, 2017)

In Brennan v. Zafgen, Inc., — F.3d –, 2017 WL 1291194 (1st Cir., April 7, 2017), the First Circuit affirmed a District of Massachusetts decision dismissing claims against Zafgen, Inc., a biopharmaceutical developer, and its CEO,…more
 /  Business Organizations, Health, Science, Computers, & Technology, Securities Law

What Explains Plaintiffs’ Post-Morrison Preference for the Third Circuit in Securities Filings Involving Overseas Parties or Conduct?

In monitoring securities cases filed around the country, I like to keep an eye out for regional trends. Historically, plaintiffs’ counsel respected the company defendant’s forum, filing in the federal court closest to the…more
 /  Civil Procedure, International Law & Trade, Securities Law

Myths & Misconceptions of Biotech Securities Claims: An Analysis of Motion to Dismiss Results (2005-2016)

There is a common life cycle for Directors and Officers Liability for a publicly-traded biotechnology company bringing its first drug or device to the market. In the early stages, whether pre-clinical or Phase 1, there is more…more
 /  Business Organizations, Civil Procedure, Insurance, Science, Computers, & Technology, Securities Law

Ninth Circuit Says Ethics Policies Are “Inherently Aspirational,” and Violations Don’t Support Securities Fraud Claims, in Retail Wholesale v. Hewlett-Packard (January 19, 2017)

A senior officer’s violations of a corporation’s code of conduct do not give rise to a claim for violation of the federal securities laws—even where the corporation (including the officer himself) has touted the company’s high…more
 /  Business Organizations, Civil Procedure, Commercial Law & Contracts, Securities Law

Be Careful What You Wish For, Part II: Would Companies Be Better Off Without the Fraud-on-the-Market Doctrine?

The villain in the fight against securities class actions is the fraud-on-the-market presumption of reliance established by the U.S. Supreme Court in 1988 in Basic Inc. v. Levinson, 485 U.S. 224 (1988). Without Basic, the…more
 /  Business Organizations, Civil Procedure, Finance & Banking, Insurance, Securities Law

Be Careful What You Wish For, Part I: Does the Reform Act Need Reforming?

The history of securities and corporate governance litigation is full of wishes about the law that we later regret (or will), or are happy were not granted. Many of these are not obvious—and some will surprise people. From…more
 /  Civil Procedure, Securities Law

3 Key Securities Litigation Developments of 2016

Among securities litigators, there is no consensus about the importance of developments in securities and corporate governance litigation. For some, a Supreme Court decision is always supreme. For others, a major change in a…more
 /  Civil Procedure, Securities Law

Lessons Learned in London

Earlier this month, I spent a week in the birthplace of D&O insurance, London. In addition to moderating a panel at Advisen’s European Executive Risks Insights Conference, I met with many energetic and talented D&O insurance…more
 /  Commercial Law & Contracts, Privacy, Insurance, Science, Computers, & Technology, Securities Law
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