News & Analysis as of

Securities Fraud Securities Litigation

Central District Of California Dismisses Securities Fraud Claim Against Facebook, Finding Plaintiffs Failed To Sufficiently Allege...

by Shearman & Sterling LLP on

On October 4, 2017, United States District Judge Stephen V. Wilson of the United States District Court for the Central District of California dismissed without prejudice a putative class action against Facebook, Inc., and...more

Southern District Of New York Dismisses Securities Fraud Class Action With Prejudice, Finding Plaintiffs Failed To Plead That...

by Shearman & Sterling LLP on

On September 22, 2017, United States District Judge Alison J. Nathan of the United States District Court for the Southern District of New York dismissed with prejudice an amended consolidated putative class action complaint...more

Northern District Of California Dismisses Securities Fraud Suit Against Dynavax, Finding That Allegations Regarding Disclosure...

by Shearman & Sterling LLP on

On September 12, 2017, United States District Judge Yvonne Gonzalez Rogers of the United States District Court for the Northern District of California dismissed without prejudice a consolidated putative class action against...more

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

Upcoming Supreme Court Cases Worth Noting by Institutional Investors

The U.S. Supreme Court‘s 2017 term begins October 2nd and we will be tracking at least three cases relevant to institutional investors: •Cyan, Inc. v. Beaver County Employees Retirement Fund •Digital Realty Trust v....more

A New and Important Development in Insider Trading Law

by Seyfarth Shaw LLP on

In a case likely to have ongoing ramifications, the Second Circuit recently upheld the conviction of Matthew Martoma, a former portfolio manager for Stephen Cohen’s SAC Capital. In so doing, the court clarified, at least for...more

Northern District Of Texas Dismisses Putative Securities Fraud Class Action Against Pier 1 Imports For Failure To Adequately Plead...

by Shearman & Sterling LLP on

On August 10, 2017, Judge Sidney A. Fitzwater of the United States District Court for the Northern District of Texas dismissed a putative securities class action brought against Pier 1 Imports, Inc. (“Pier 1”) and its former...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

Four criminal securities cases moved to or toward resolution over the past week. The jury in the Martin Shkreli trial returned a verdict of guilty on three counts and not guilty on five others at the end of last week....more

Ninth Circuit Reverses District Court Dismissal Of Securities Fraud Class Action, Holding That Non-Forward Looking Statements...

by Shearman & Sterling LLP on

On July 28, 2017, the United States Circuit Court of Appeals for the Ninth Circuit reversed a district court decision dismissing a putative class action lawsuit against Quality Systems, Inc., (“QSI” or the “Company”), a...more

Securities Class Action Filings at an All-Time High

Federal securities fraud class action filings have been on a meteoric rise over the past 18 months. According to a recent report released by Cornerstone Research, plaintiffs filed 226 new federal securities fraud class action...more

Eastern District Of Wisconsin Dismisses Securities Fraud Allegations Based On Accounting Errors For Failure To Sufficiently Plead...

by Shearman & Sterling LLP on

On July 20, 2017, Judge J.P. Stadtmueller of the United States District Court for the Eastern District of Wisconsin dismissed claims brought by shareholders of Kohl’s Corporation (“Kohl’s”) against the company and two of its...more

Southern District Of New York Dismisses Securities Fraud Claims For Failure To Plead Reliance And Scienter

by Shearman & Sterling LLP on

On July 10, 2017, Judge John G. Koeltl of the United States District Court for the Southern District of New York dismissed a putative securities fraud class action against E*TRADE Securities LLC (“E*TRADE”), E*TRADE Financial...more

SCOTUS Upholds Strict Statute of Repose on Federal Section 11 Securities Claims

by Perkins Coie on

In a 5-4 decision in California Public Employees’ Retirement System (CalPERS) v. ANZ Securities, Inc., et al. (No. 16-373), 582 U.S. ___ (2017), the U.S. Supreme Court upheld, at the end of last month, a U.S. Court of Appeals...more

The Supreme Court Holds Statute of Repose Cannot Be Equitably Tolled

Securities defendants can rest easier after the Supreme Court’s decision to strictly construe certain statutory time limits under the Securities Act of 1933. On June 26, 2017, the Court issued its opinion in California Public...more

Supreme Court Upholds Strict Time Limit in Federal Securities Class Actions

On June 26, 2017, the Supreme Court issued a 5-4 decision in California Public Employees’ Retirement System v. ANZ Securities, Inc., et al. (“CalPERS”) (No. 16–373, 2017 WL 2722415) (U.S. June 26, 2017), holding that the...more

Supreme Court Rules American Pipe Doesn't Toll 3-Year Limit on Securities Claims

On June 26, 2017, the U.S. Supreme Court issued a decision that will have a significant effect on securities class action litigation, changing the strategic calculus for both institutional plaintiffs and defendants. In...more

US Supreme Court Holds that 3-Year Time Limit to Challenge Registration Statements Cannot Be Tolled, Precluding Opt-Out Plaintiffs...

by Dechert LLP on

Officers, directors, and underwriters frequently become targets of securities fraud litigation after a public offering. In a landmark case decided yesterday, the U.S. Supreme Court provides defendants with another tool to...more

District Of Massachusetts Dismisses Putative Securities Class Action, Finding Vague And Generalized Allegations To Be...

by Shearman & Sterling LLP on

On June 6, 2017, United States District Judge George A. O’Toole, Jr. of the United States District Court for the District of Massachusetts dismissed with prejudice a putative securities class action against Sonus Networks,...more

Inside the Courts – An Update From Skadden Securities - June 2017

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between February 2017 and April 2017. The cases address developing trends in class actions, ERISA, fiduciary duties,...more

U.S. Supreme Court Significantly Limits SEC's Power to Recover Disgorgement

by Jones Day on

On June 5, 2017, in an unanimous ruling in Kokesh v. SEC, No. 16-529, the United States Supreme Court significantly limited the breadth of the Securities and Exchange Commission's primary enforcement tool. The Court held that...more

Supreme Court Unanimously Limits the SEC’s Ability to Seek Disgorgement

This week, the United State Supreme Court finally resolved a circuit split and unanimously held that SEC actions seeking to disgorge ill-gotten gains are subject to a five-year statute of limitations on civil fines, penalties...more

SCOTUS Limits SEC Disgorgement Remedies

by Bass, Berry & Sims PLC on

On June 5, 2017, the U.S. Supreme Court unanimously held that SEC disgorgement remedies used as punitive sanctions for violating federal securities laws constitute civil penalties and are subject to the five-year statute of...more

Third Circuit Affirms Dismissal Of Putative Securities Class Action Regarding Rejected FDA Application For Drug Aimed At Reducing...

by Shearman & Sterling LLP on

On May 23, 2017, the United States Court of Appeals for the Third Circuit, in a non-precedential opinion, affirmed the dismissal of a putative securities fraud class action against Amarin Plc., a biopharmaceutical...more

Scienter Requirement May Be A Question Of Timing

by Allen Matkins on

On several occasions, I have written about whether scienter is required under Corporations Code Section 25401. That question surfaced again last week in Judge Gonzolo P. Curiel’s ruling on the defendants’ motion to dismiss...more

102 Results
|
View per page
Page: of 5
Cybersecurity

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.