Paul Bessette

King & Spalding

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A Texas Federal Judge Turns Up the Heat on Oil Companies Facing Climate Change-Related Securities Class Actions

On August 14, 2018, the United States District Court for the Northern District of Texas issued a surprisingly shareholder-friendly opinion denying a motion to dismiss filed by Exxon Mobil Corp. See Ramirez v. Exxon Mobil...more

9/10/2018 / Class Action , Climate Change , Corporate Counsel , Exxon Mobil , False Statements , Motion to Dismiss , Oil & Gas , Popular , Shareholders

Climate Change and Oil Reserve Estimates — New Securities Litigation Risks

A Texas Federal Judge Turns Up The Heat On Oil Companies Facing Climate Change-Related Securities Class Actions - On August 14, 2018, the United States District Court for the Northern District of Texas issued a...more

8/22/2018 / Class Action , Climate Change , Oil & Gas , Popular , Securities and Exchange Commission (SEC)

U.S. Supreme Court’s Cyan Decision Confirms State Courts’ Jurisdiction Over Securities Act of 1933 Class Actions

On March 20, 2018, the United States Supreme Court issued a unanimous decision in Cyan, Inc. v. Beaver County Employees Retirement Fund. Cyan resolves a nearly two-decades-long split among state and federal courts concerning...more

3/22/2018 / Class Action , Cyan Inc v Beaver Cty Emps Ret Fund , Jurisdiction , Removal , SCOTUS , Securities Act of 1933 , Securities Violations , SLUSA , State Law Claims

U.S. Supreme Court’s ANZ Decision Prohibits Tolling Of The Securities Act Of 1933’s Three -Year Statute Of Repose

The Securities Act of 1933 prevents a securities purchaser from suing over an alleged material misstatement or omission in a registration statement more than three years after the offeringdate. A circuit split developed over...more

6/29/2017 / CalPERS v ANZ Securities , Class Action , SCOTUS , Securities Act of 1933 , Statute of Limitations , Statute of Repose , Tolling

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