Ellen Shapiro

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Supreme Court Denies Opportunity To Clarify Whether The Federal Securities Laws Carry a Duty to Update

On May 20, 2019, the U.S. Supreme Court denied defendants-appellees’ petition for certiorari in Hagan v. Khoja. As set forth in our prior alert, the executives of the now-defunct biotechnology company, Orexigen, sought review...more

5/23/2019 / Appeals , Denial of Certiorari , Duty to Update , Incorporation by Reference , Securities Exchange Act , Securities Litigation , Split of Authority

Petition for Certiorari Asks Supreme Court to Clarify Whether the Federal Securities Laws Carry a Duty to Update

Last week, executives of the now-defunct biotechnology company, Orexigen, filed a petition for certiorari with the U.S. Supreme Court, seeking clarification of the duty to update under the federal securities laws. The...more

2/19/2019 / Appeals , Duty to Update , Incorporation by Reference , Petition for Writ of Certiorari , Securities Exchange Act , Securities Litigation , Split of Authority

In Khoja, the Ninth Circuit Limits Defendants’ Ability to Argue Facts in a Motion to Dismiss

In Khoja v. Orexigen Therapeutics, Inc., the Ninth Circuit clarified the “rare circumstances” when a court may review documents extraneous to the pleadings in ruling on a motion to dismiss. Given that it has become routine...more

9/19/2018 / Abuse of Discretion , Document Productions , En Banc Review , Extrinsic Evidence , Motion to Dismiss , Rule 10(b) , Securities Exchange Act , Securities Litigation

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