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Court Dismisses Post-SPAC Class Action for Lack of Standing

On March 31, 2023, U.S. District Judge Ronnie Abrams of the Southern District of New York dismissed a putative securities class action against CarLotz, Inc. (CarLotz), and certain of its officers and directors on the grounds...more

Dismissal of Putative Securities Class Action for Citrix Systems, Inc.

In an opinion entered in the case on January 3, 2023, U.S. District Judge Raag Singhal of the Southern District of Florida dismissed with prejudice a putative securities class action complaint against Citrix Systems, Inc....more

Dismissal of Shareholder Derivative Suit for Failure to Allege Demand Was Excused

On September 27, 2022, U.S. District Judge Kevin McNulty of the District of New Jersey dismissed a consolidated derivative action allegedly brought on behalf of Cognizant Technology Solutions Corporation against certain...more

SEC Focuses on Insider Trading and Leverages Market Analytics in Recent Slew of Enforcement Cases

​​​​​​​On July 25, 2022, the U.S. Securities and Exchange Commission (“SEC”) announced insider trading charges against ten individual defendants across four separate cases (Bhardwaj, Goel, Markin, and Buyer), filed in the...more

Delaware Court Of Chancery Dismisses Remainder 0f Claims Alleging that California Biotech Firm Profited From Nonpublic Information...

On June 3, 2022, the Delaware Court of Chancery dismissed the final two counts in an action against California biotech firm Vaxart, Inc., finding that plaintiffs failed to adequately allege that certain non-public information...more

SEC Proposes Rule Amendments Requiring Climate — Related Disclosures

SEC Proposes Rule Amendments Requiring Climate-Related Disclosures; Southern District of New York Dismisses Securities Fraud Claims Against U.S. Stock Exchanges for Lack of Standing; Southern District of New York Dismisses...more

Delaware Chancery Court Dismisses Derivative Claim for Failure to Show Demand Futility

Delaware Chancery Court Dismisses Derivative Claim for Failure to Show Demand Futility; Federal Illegality of Marijuana Industry Bars Relief for Numerous Investor Claims; LIBOR Convictions of Former Deutsche Bank Traders...more

FTC And Zoom Reach Settlement Over Alleged Privacy And Data Security Misrepresentations

On November 9, 2020, the Federal Trade Commission (“FTC”) announced a settlement with Zoom Video Communications, Inc. (“Zoom”) to resolve allegations that the company misled customers about steps it had taken to protect...more

False Claims Act Risks In U.S. Higher Education

The federal False Claims Act (FCA) has long been a powerful tool for the U.S. Department of Justice (DOJ) — or private whistleblowers bringing suit on the DOJ’s behalf — to investigate and police activity financed with...more

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