News & Analysis as of

Securities Dismissals

Holland & Knight LLP

The Latest from the World of Ripple and Its (Ripple) Effects

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The same day that the U.S. District Court for the Southern District of New York (SDNY) in SEC v. Ripple Labs, Inc. denied the SEC's request for an interlocutory appeal of the bombshell summary judgment ruling in the case, the...more

Skadden, Arps, Slate, Meagher & Flom LLP

En Banc Panel of Ninth Circuit Enforces Forum Selection Clause To Dismiss Derivative Securities Claims, Confirming Circuit Split

On June 1, 2023, an en banc panel of the U.S. Court of Appeals for the Ninth Circuit issued a much-anticipated decision in Lee v. Fisher, No. 21-15923, enforcing a forum selection clause in Gap Inc.’s corporate bylaws that...more

A&O Shearman

New Jersey Appellate Division Affirms Dismissal Of Putative Securities Class Action On The Basis Of Federal Forum Selection...

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On May 15, 2023, the Appellate Division of the Superior Court of New Jersey unanimously affirmed the dismissal with prejudice of a putative securities class action asserting claims under the Securities Act of 1933 against a...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - May 2023

Supreme Court Hears Argument on Traceability Requirement in Circuit-Split Slack v. Pirani - Key Points - - Before the end of June, the U.S. Supreme Court is expected to issue a decision in a high-profile securities case...more

Proskauer - Blockchain and the Law

Fraud Claims Against Token Issuer Dismissed Based on Disclosures to Accredited Investor

The organizers of an initial coin offering (ICO) recently won dismissal of an investor’s fraud claims by establishing that their public risk disclosures negated the investor’s claims of reliance on alleged misstatements. The...more

Downey Brand LLP

The Ninth Circuit Sounds A Wake Up Call – Federal Law Permits Class Action Claims Against Trustees

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While institutional trustees may have once slept soundly considering themselves immune from class action lawsuits relating to the purchase or sale of securities on behalf of a trust, the Ninth Circuit’s recent ruling in Banks...more

UB Greensfelder LLP

Ohio Supreme Court Clarifies the Definition of “Participating in or Aiding” Securities Fraud

UB Greensfelder LLP on

In a recent landmark decision, the Ohio Supreme Court declared that R.C. 1707.43 does not impose joint and several liability on a custodian of a self-directed individual retirement account (IRA) that purchased illegal...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - December 2018

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between September 2018 and October 2018. ...more

A&O Shearman

Third Circuit Affirms Dismissal Of Putative Class Action Without Leave To Amend

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On November 14, 2018, the United States Court of Appeals for the Third Circuit affirmed the dismissal of and denial of leave to amend a putative class action complaint against Altisource Asset Management Corporation (“AAMC”)...more

Skadden, Arps, Slate, Meagher & Flom LLP

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

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts: An Update From Skadden Securities Litigators - September 2015 / Volume 7 / Issue 3

This issue of Inside the Courts, Skadden’s securities litigation newsletter, includes summaries and associated court opinions of selected cases principally decided between May 2015 and August 2015. The cases address...more

Katten Muchin Rosenman LLP

Second Circuit Dismisses Suit Over FBI’s Wiretapping of Marital Conversations in Securities Fraud Investigation

Federal Bureau of Investigation (FBI) wiretapping played an important role in the wide-ranging insider trading investigation and subsequent trials of Galleon Group LLC principals and traders. During his criminal prosecution,...more

Orrick - Finance 20/20

Second Circuit Affirms Dismissal of Class Action Alleging That RBS Mislead Investors About RMBS Exposure

Orrick - Finance 20/20 on

On April 15, 2015, the U.S. Court of Appeals for the Second Circuit affirmed the dismissal of a putative investor class action against the Royal Bank of Scotland (RBS). The plaintiffs had brought claims under Sections 10(b)...more

Burr & Forman

Alabama Supreme Court Affirms Dismissal in Walter Energy

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On February 20, 2015, the Alabama Supreme Court affirmed the order of the Circuit Court of Jefferson County, Alabama dismissing claims asserted by Walter Energy, Inc. against investor Julian A. Treger, his firm Audley Capital...more

Katten Muchin Rosenman LLP

Southern District Dismisses Complaints Against China North Director and Consultant

On December 10, a New York district court judge dismissed a securities fraud class action brought by investors in China North East Petroleum Holdings, Ltd. against former director Robert Bruce (and others) on the ground that...more

Allen Matkins

Ninth Circuit Requires Particularity In All Elements Of Securities Fraud Pleading

Allen Matkins on

Sometimes, I find it useful to take a step back and review the legal standard applicable to securities fraud claims under Section 10(b) and Rule 10b-5. To stay in court, and securities litigation all about surviving motions...more

Akerman LLP

Ninth Circuit Effectively Does Away with Securities Claims for Aftermarket Purchasers

Akerman LLP on

Last week, the Ninth Circuit Court of Appeals affirmed the dismissal of a lawsuit filed pursuant to Section 11 of the Securities Act of 1933 (the "1933 Act"). Section 11 provides for claims involving false or misleading...more

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