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A&O Shearman

Ninth Circuit Affirms Dismissal Of Exchange Act Claims Against Post deSPAC Company, Holding That Shareholders Of The SPAC Lack...

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On August 8, 2024, the United States Court of Appeals for the Ninth Circuit affirmed United States District Judge Yvonne Gonzalez Rogers’s dismissal of a putative securities class action asserting claims under Sections 10(b)...more

A&O Shearman

Second Circuit Affirms District Court’s Dismissal Of Putative Securities Fraud Class Action Against China-Based Real Estate...

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On June 10, 2024, the United States Court of Appeals for the Second Circuit affirmed the dismissal of a putative shareholders’ class action against a real estate company (the “Company”) and several of its directors (the...more

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United States Supreme Court Grants Certiorari To Consider When Already-Materialized Risks Must Be Disclosed

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On June 10, 2024, the United States Supreme Court granted certiorari to review a decision of the United States Court of Appeals for the Ninth Circuit that partially reinstated a putative class action asserting claims under...more

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Southern District Of Florida Dismisses Suit Against French Content Moderation Company And Previews Acceptable Amended Complaint

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On May 22, 2024, Judge Cecilia M. Altonoga of the United States District Court for the Southern District of Florida granted a motion to dismiss a putative shareholder action asserting claims under Sections 10(b) and 20(a) of...more

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Sixth Circuit Affirms District Court’s Dismissal Of Putative Securities Class Action Against Car Insurance Company For Failure To...

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On April 29, 2024, the United States Court of Appeals for the Sixth Circuit affirmed the dismissal with prejudice of a putative class action asserting claims under the Sections 11, 12(a)(2), and 15 of the Securities Act of...more

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Southern District Of California Dismisses Putative Class Action Against Medical Device Company For Failure To Adequately Allege...

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On April 30, 2024, Judge Marilyn L. Huff of the United States District Court for the Southern District of California dismissed with leave to amend a putative class action asserting claims under the Securities Exchange Act of...more

A&O Shearman

Southern District Of New York Largely Denies Motion To Dismiss Putative Class Action Against Dental Product Manufacturer

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On May 1, 2024, Judge Arun Subramanian 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 Exchange Act of...more

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Fifth Circuit Reverses District Court’s Dismissal Of Putative Securities Fraud Class Action Against Amusement Park Company For...

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On April 18, 2024, the United States Court of Appeals for the Fifth Circuit reversed the dismissal of and reinstated a putative shareholders’ class action against an amusement park company (the Company”) and certain of its...more

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Ninth Circuit Reinstates Putative Class Action Against Children’s Entertainment Company, Holding Actionable Misstatements And Loss...

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On April 5, 2024, the United States Court of Appeals for the Ninth Circuit affirmed in part and reversed in part the dismissal of a putative class action asserting claims under the Securities Exchange Act of 1934 against a...more

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Ninth Circuit Affirms Dismissal Of Putative Securities Class Action Against Biopharmaceutical Company Over Statements It Had...

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On March 25, 2024, the United States Court of Appeals for the Ninth Circuit unanimously affirmed a trial court decision dismissing a putative securities class action brought by investors against a biopharmaceutical company...more

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Third Circuit Affirms District Court’s Dismissal Of Suit Against Vaccine Developer

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On March 21, 2024, the United States Court of Appeals for the Third Circuit affirmed the dismissal of a putative class action against a biopharmaceutical company (the “Company”) and certain of its officers under Sections...more

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Eastern District Of New York Grants Motion To Dismiss Proposed Class Action Against Mobile Game Development Company

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On March 18, 2024, Judge Rachel P. Kovner of the United States District Court for the Eastern District of New York dismissed with prejudice a putative shareholders’ class action against a mobile game development company (the...more

A&O Shearman

Southern District Of New York Grants In Part And Denies In Part Motion To Dismiss Putative Class Action Complaint Against Software...

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On March 5, 2024, Judge John P. Cronan of the United States District Court for the Southern District of New York granted in part, and denied in part, a motion to dismiss a putative shareholders’ class action, alleging that a...more

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Western District Of Washington Grants Motion To Dismiss Proposed Class Action Against Software Company And Its Board Of Directors

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On March 1, 2024, Judge Marsha J. Pechman of the United States District Court for the Western District of Washington dismissed with prejudice a putative shareholders’ class action against a software company (the “Company”)...more

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Northern District Of California Court Partially Grants Motion To Dismiss Putative Securities Class Action Against Pharmaceutical...

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On March 11, 2024, Judge Haywood S. Gilliam, Jr. of the United States District Court for the Northern District of California granted in part and denied in part a motion to dismiss a putative securities class action brought...more

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Southern District Of New York Dismisses Proposed Securities Class Action Against Biopharmaceutical Company Alleging Failure To...

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On February 4, 2024, Judge Arun Subramanian of the United States District Court for the Southern District of New York dismissed a proposed securities class action against a biopharmaceutical company (the “Company”) alleging...more

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Southern District Of New York Dismisses Putative Class Action Against Media Company For Failure To Adequately Allege...

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On February 5, 2024, Judge Valerie Caproni of the United States District Court for the Southern District of New York dismissed with prejudice a putative class action asserting claims under the Securities Act of 1933 against a...more

Allen Matkins

Does The Securities Exchange Act Of 1934 Preclude Actions In State Court Under Corporations Code Section 25401?

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Section 25401 of the California Corporations Code declares generally declares unlawful to make false statements of a material fact or or omit material facts when buying or selling a security.  It is therefore similar to Rule...more

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Supreme Court Considers Whether An Item 303 Violation, Standing Alone, Can Support An Exchange Act Claim

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On January 16, 2024, the Supreme Court of the United States heard oral argument in Macquarie Infrastructure Corp. v. Moab Partners, No. 22-1165, a case considering whether a private plaintiff may plead a claim under Section...more

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Central District Of California Dismisses Putative Class Action Against Medical Apparel Company For Failure To Adequately Allege...

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On January 17, 2024, Judge Otis D. Wright, II of the United States District Court for the Central District of California dismissed a putative class action asserting claims under Section 10(b) of the Exchange Act and Sections...more

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Southern District Of New York Dismisses With Prejudice Claims Against Pharmaceutical Company Alleging Material Misstatements And...

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On December 28, 2023, Judge Jed S. Rakoff of the United States District Court for the Southern District of New York dismissed a putative class action alleging that a biopharmaceutical company (the “Company”) and certain of...more

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Southern District Of New York Grants Motion To Dismiss Putative Securities Class Action Against Chinese Private-Sector Education...

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On December 6, 2023, Judge John G. Koeltl of the U.S. District Court for the Southern District of New York granted a motion to dismiss a putative securities class action brought against an operator of private schools in...more

White & Case LLP

The SEC’s Charges Against SolarWinds and its Chief Information Security Officer Provide Important Cybersecurity Lessons for Public...

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On October 30, 2023, the US Securities and Exchange Commission ("SEC") announced that it filed charges against SolarWinds Corp. ("SolarWinds" or the "Company") and its Chief Information Security Officer ("CISO") in connection...more

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Eastern District Of New York Grants Motion To Dismiss Proposed Securities Class Action Against Russian Electronic Payments Company

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On November 3, 2023, Judge Rachel P. Kovner of the United States District Court for the Eastern District of New York granted a motion to dismiss a proposed putative securities class action alleging that a Russian electronic...more

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Southern District Of New York Grants In Part And Denies In Part Motion To Dismiss Securities Class Action Against Chinese Grocery...

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On November 6, 2023, Judge Jed S. Rakoff of the United States District Court for the Southern District of New York granted in part and denied in part a motion to dismiss a putative securities class action alleging that a...more

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