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Second Circuit Upholds Dismissal of AstraZeneca Investor Suit

On May 16, 2023, the US Court of Appeals for the Second Circuit affirmed the Southern District of New York’s order dismissing an action brought by investors of AstraZeneca PLC (AstraZeneca) attempting to hold the company...more

Court Denies Dapper Labs’ Motion to Dismiss, Finding That NFTs May Be Securities

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

Jury Acquits Tesla and Musk of Securities Fraud for 2018 Tweets Regarding Going Private

On February 3, 2023, in the matter In re Tesla Inc. Securities Litigation, Case No. 3:18-cv-04865, a California federal jury cleared Tesla, Inc. (Tesla), and CEO Elon Musk of claims that they committed securities fraud,...more

Appeal of Certification of Nationwide Class in ERISA Lawsuit

On December 1, 2022, the U.S. Court of Appeals for the Second Circuit vacated and remanded a district court’s decision to certify a class of more than 200,000 retirees alleging that collateralized loans serviced by the...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

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