On June 1, 2023, the United States Supreme Court issued a unanimous opinion that makes it more difficult for shareholders to bring Section 11 claims against companies that go public via direct listings. The case involved a...more
7/26/2023
/ Bylaws ,
Civil Monetary Penalty ,
Corporate Governance ,
Derivative Suit ,
Direct Listing ,
Forum Selection ,
Gap Inc ,
Insider Trading ,
Market Manipulation ,
Phantom Stock Plans ,
Private Equity Firms ,
SCOTUS ,
Section 11 ,
Section 12 ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Shareholder Litigation ,
Slack
On February 22, 2023, U.S. District Judge Victor Marrero of the Southern District of New York denied a motion to dismiss a putative class action brought by purchasers of a non-fungible token (NFT) against Dapper Labs, Inc....more
3/29/2023
/ 10b5-1 Plans ,
Antitrust Litigation ,
Bitcoin ,
Caremark claim ,
Criminal Prosecution ,
Derivative Suit ,
Facebook ,
Federal Trade Commission (FTC) ,
Fiduciary Duty ,
Howey ,
Insider Trading ,
McDonalds ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Putative Class Actions ,
Securities ,
Sexual Harassment
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
1/18/2023
/ 10b5-1 Plans ,
Business Model ,
Corporate Officers ,
Derivative Suit ,
Dismissals ,
False Statements ,
Opioid ,
Putative Class Actions ,
Regulation S-K ,
Rule 10(b) ,
Scienter ,
Securities Litigation ,
Shareholder Litigation ,
Shareholders ,
Stock Prices
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
11/3/2022
/ Administrative Hearings ,
Caremark claim ,
Class Action ,
Compliance ,
Constitutional Challenges ,
Cooperation ,
Department of Justice (DOJ) ,
Derivative Suit ,
Foreign Corrupt Practices Act (FCPA) ,
Indictments ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Litigation ,
Shareholder Litigation ,
Shareholders