News & Analysis as of

Putative Class Actions

California District Court Denies Dismissal Of Securities Fraud Class Action, Finding Public Information Is Not Immaterial As A...

by Shearman & Sterling LLP on

On September 6, 2017, Judge Andrew J. Guilford of the Central District of California denied motions to dismiss a putative securities class action asserting claims under Section 10(b) and 20(a) of the Securities Exchange Act...more

California District Court Dismisses Securities Fraud Class Action, Finding News Reports Insufficient To Support A Claim Absent...

by Shearman & Sterling LLP on

On September 6, 2017, Judge Fernando M. Olguin of the Central District of California granted in part and denied in part a motion by defendants to dismiss a putative securities fraud class action against Goldcorp, Inc., a gold...more

California Employment Law Notes - September 2017

Jobseeker Website May Be Compelled To Disclose Identity Of Anonymous Posters Who Criticized Employer - ZL Technologies, Inc. v. Does 1-7, 13 Cal. App. 5th 603 (2017) - ZL Technologies brought suit, alleging libel per se and...more

Southern District Of New York Dismisses Exchange Act Claims Based On Exposure To Puerto Rican Bonds For Failure To Sufficiently...

by Shearman & Sterling LLP on

On September 5, 2017, Judge Richard M. Berman of the United States District Court for the Southern District of New York dismissed a putative class action against Ambac Financial Group, Inc. (“Ambac”), asserting claims under...more

Bittersweet: The Chicago Sweetened Beverage Tax Sparks Class Action Litigation (update)

by Benesch on

After a protracted legal fight, Cook County’s much maligned Sweetened Beverage Tax went into effect on August 2, 2017. See County of Cook, § 74-850, et seq.[1] In relevant part, the tax requires retailers of sweetened...more

The New Wave of Life Settlement Litigation: Attacks on Cost of Insurance Rate Increases

Starting in 2015 and continuing into 2016, a number of insurance carriers raised the cost of insurance ("COI") rates on universal life insurance policies, resulting in dramatic increases to the premiums required to keep the...more

Uber Customer Arbitration Agreement Enforceable Under California Law, Says Second Circuit

by Carlton Fields on

The Second Circuit has found that Spencer Meyer, a customer of Uber, was provided “reasonably conspicuous” notice of Uber’s Terms of Service to which he “unambiguously manifested assent” when he created an Uber account, such...more

Circuit Court Finds Putative Class Affidavits, Combined With Other Records, May Satisfy Ascertainability Requirement

by Carlton Fields on

Defendants BMW and Creditsmarts were parties to a marketing agreement through which BMW offered its direct automotive “up2drive” loans to borrowers at participating independent car dealers through Creditsmarts’ internet-based...more

Southern District Of New York Dismisses Securities Fraud Suit Against La Quinta Holdings, Inc., Finding No Adequately Alleged...

by Shearman & Sterling LLP on

On August 24, 2017, Judge Alison J. Nathan of the United States District Court for the Southern District of New York dismissed with prejudice a putative securities class action against hotel chain La Quinta Holdings, Inc....more

Delaware Court Of Chancery Dismisses Post-Closing Stockholder Suit Asserting Fiduciary Duty Breach Claims And Also Seeking...

by Shearman & Sterling LLP on

On August 28, 2017, Vice Chancellor Sam Glasscock III of the Delaware Court of Chancery dismissed a putative stockholder class action against the directors of Kreisler Manufacturing Corporation (“Kreisler”), rejecting...more

Western District Of Texas Dismisses Securities Fraud Suit Against Whole Foods, Finding Alleged Knowledge Of In-House Counsel Could...

by Shearman & Sterling LLP on

On August 25, 2017, Judge Lee Yeakel of the United States District Court for the Western District of Texas dismissed with prejudice a putative securities class action against Whole Foods Market, Inc. and certain of its...more

Tough Puffery: Court Closes Door on Ford False Advertising Suit

The Northern District of New York recently found that Ford Motor Company’s “Built Ford Tough” slogan was non-actionable puffery, and dismissed putative false advertising class action claims brought under New York law that...more

Eleventh Circuit Affirms Dismissal in FCRA Class Action

by Goodwin on

Last week, the Eleventh Circuit affirmed the Northern District of Georgia’s dismissal of a putative Fair Credit Reporting Act (FCRA) case against Equifax and Transunion. In Pedro v. Equifax, Inc., plaintiff sought to...more

Cyber Briefing: Second “Envelope” Lawsuit Against Aetna, Yahoo to Answer for 1.5 Billion Hacked Accounts and Eighth Circuit...

As we head into the new week, here’s a quick summary of major data security developments from around the country. Aetna Hit With Second “Envelope” Lawsuit - Aetna Inc. is now facing a second lawsuit over the disclosure...more

District Court Rejects Direct Purchaser Class for Failure to Satisfy Numerosity Requirement

by WilmerHale on

On August 28, 2017, in King Drug Company of Florence, Inc., et al. v. Cephalon, Inc., et al., the Eastern District of Pennsylvania denied class certification for direct purchasers asserting Hatch-Waxman reverse-payment...more

Still Standing: Ninth Circuit Again Finds Standing in Spokeo Remand

by Carlton Fields on

The Ninth Circuit recently issued its latest opinion in Spokeo, Inc. v. Robins, the closely-watched putative class action dating back to 2010. The plaintiff initiated the lawsuit against Spokeo, which aggregates publicly...more

First Circuit Affirms Dismissal Of Putative Securities Fraud Class Action, Finding Defendants' Statements Concerning The Potential...

by Shearman & Sterling LLP on

On August 22, 2017, the United States Court of Appeals for the First Circuit affirmed an order from the District of Massachusetts, dismissing a putative securities class action that asserted claims under Sections 10(b) and...more

Delaware Court Of Chancery Extends MFW Protections To One-Sided Controller Transactions

by Shearman & Sterling LLP on

On August 18, 2017, Vice Chancellor Joseph R. Slights III of the Delaware Court of Chancery dismissed a putative shareholder suit asserting claims for breach of fiduciary duty against Martha Stewart, the controlling...more

Third Circuit Affirms Dismissal Of Putative Securities Class Action, Finds No Duty To Disclose An Event Named In A Risk Disclosure...

by Shearman & Sterling LLP on

On August 23, 2017, the United States Circuit Court of Appeals for the Third Circuit affirmed a district court decision dismissing a putative class action against Globus Medical, Inc. (“Globus” or the “Company”), a medical...more

Putative TCPA Class Denied Certification Under Spokeo

by Goodwin on

On August 15, 2017, the Northern District of Illinois denied class certification to a proposed Telephone Consumer Protection Act (TCPA) class in Legg v. PTZ Insurance Agency Ltd., No. 14 C 10043. The court held that, because...more

Eleventh Circuit Affirms Dismissal of FCRA Claim Finding that Interpretation of Act Was Objectively Reasonable

by Burr & Forman on

In Pedro v. Equifax, Inc., — F.3d —, 2017 WL 3623926 (11th Cir. 2017), the Eleventh Circuit held that it was not objectively unreasonable for TransUnion, LLC to interpret section 1681e(b) of the Fair Credit Report Act...more

Eighth Circuit Finds Standing in Data Breach Case for Privacy Policy Violation, Dismisses for Lack of Specificity

by Fenwick & West LLP on

The U.S. Court of Appeals for the Eighth Circuit has held that allegations that the security provisions of a privacy policy were violated are sufficient for standing in a data breach case, but that plaintiffs’ contractual...more

Food & Beverage Litigation Update | August 2017 #3

As plant-based beverages appear on more store shelves, the definition of “milk” has become the center of a dispute involving legislatures, regulators, litigators and industry groups. Shook Partners Katie Gates Calderon and...more

Supreme Court Decision Imposes Strict Filing Deadline on Civil Actions Related to Securities Offerings

On June 26, 2017, the United States Supreme Court issued its opinion on California Public Employees’ Retirement System v. ANZ Securities, Inc., No. 16-373, ruling that actions involving securities offerings and sales are...more

Lack of Injury Costs Plaintiffs Their Deceptive Pricing Suit

Not long after the U.S. Court of Appeals, First Circuit tossed deceptive pricing claims for lack of injury, a California federal court reached a similar result in a putative class action against Ross Stores Inc. for...more

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Cybersecurity

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