Lane Powell PC - Securities / D&O Discourse

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Firm Profile: Lane Powell PC
1420 Fifth Avenue, Ste. 4200
P.O. Box 91302
Seattle, WA 98111-1302, United States
Contact: Douglas Greene, Co-Chair
Phone: 800.426.5801
Fax: 206.223.7107
Areas of Practice
  • Class Action
  • Finance & Banking
  • Mergers & Acquisitions
  • Securities Law
Locations
Other U.S. Locations
  • Washington
Number of Attorneys
100+ Attorneys

First Circuit Affirms Dismissal of Claim That “Simply Point[ed] . . . to Omitted Details” of FDA Communications Without Pleading Misleading Statements, in Corban v. Sarepta Thereapeutics, Inc. (August 22, 2017)

The First Circuit recently affirmed dismissal of claims under Section 10(b) and Rule 10b-5 as failing to meet the Private Securities Litigation Reform Act’s standard for pleading scienter. Corban v. Sarepta Thereapeutics, Inc.,…more
 /  Business Organizations, Business Torts, Science, Computers, & Technology, Securities Law

Third Circuit Affirms Dismissal of Plaintiffs’ Challenge to Risk Factors and Earnings Projections, in Williams v. Globus Medical, Inc. (July 28, 2017)

A recent Third Circuit opinion demonstrates the high bar that plaintiffs face when attempting to plead the falsity of two categories of statements: (1) risk factors alleged to be misleading because the warned-of risk had already…more
 /  Business Torts, Civil Procedure, Commercial Law & Contracts, Science, Computers, & Technology, Securities Law

Ninth Circuit Analyzes Statements Concerning FDA Feedback, in In re Atossa Genetics, Inc. Securities Litigation (August 18, 2017)

On August 18, 2017, a Ninth Circuit panel affirmed in part, reversed in part, and vacated in part the district court’s dismissal of the amended securities fraud class action complaint in In re Atossa Genetics, Inc. Securities…more
 /  Business Organizations, Business Torts, Civil Procedure, Finance & Banking, Securities Law

Ninth Circuit Establishes Rule for Mixed Statements under Reform Act’s Safe Harbor, in In re Quality Systems, Inc. Securities Litigation (July 28, 2017)

On July 28, the Ninth Circuit reversed the dismissal of a securities class action, and remanded to the Central District of California. In re Quality Sys., Inc. Sec. Litig., 865 F.3d 1130 (9th Cir. 2017). Quality Systems, which…more
 /  Civil Procedure, Securities Law

Lane Powell Assists Washington Legal Foundation with US Supreme Court Amicus Brief in Cyan Securities Class Action

On September 5, 2017, my colleague Kristin Beneski and I were honored to file a US Supreme Court amicus brief on behalf of the Washington Legal Foundation (“WLF”) in Cyan, Inc. v. Beaver County Employees Retirement Fund…more
 /  Civil Procedure, Securities Law

Mandatory Arbitration of Securities Disclosure Disputes Is a Bad Idea—For Defendants

SEC Commissioner Michael Piwowar recently said that the SEC is open to allowing companies that are going public to provide for mandatory shareholder arbitration in their corporate charters. Piwowar’s remarks have prompted a…more
 /  Alternative Dispute Resolution (ADR), Business Organizations, Commercial Law & Contracts, Science, Computers, & Technology

Second Circuit Applies Morrison to Rule 23 Predominance Analysis, in In re Petrobras Securities, but Rejects Third Circuit’s “Heightened” Ascertainability Requirement (July 7, 2017)

On July 7, the Second Circuit affirmed in part and vacated in part an order by Judge Rakoff of the S.D.N.Y. certifying two classes in the In re Petrobras Securities litigation, — F.3d –, 2017 WL 2883874 (2d Cir., July 7, 2017)…more
 /  Civil Procedure, Finance & Banking, Securities Law

No “Extreme Departure” From the Classical Materiality Standard for Omissions: Second Circuit Rejects First Circuit Test for Material Omissions in Registration Statements, in Stadnick v. Vivint Solar, Inc. (June 21, 2017)

The Second Circuit, affirming the Southern District of New York’s dismissal of a ’33 Act securities class action, reaffirmed that the Circuit’s operative test for determining the materiality of omissions is the test set forth in…more
 /  Business Organizations, Securities Law

The Supreme Court Holds that the Securities Act’s Statute of Repose Is Not Subject to American Pipe Tolling, in CalPERS v. ANZ Securities (June 26, 2017)

In a 5-4 decision split along traditional ideological lines, the U.S. Supreme Court held in CalPERS v. ANZ Securities, Inc., 582 U.S. ___ (2017), that the statute of repose in Section 13 of the Securities Act cannot be tolled…more
 /  Civil Procedure, Securities Law

First Circuit Affirms Dismissal of Biogen Investors’ Claims, Finding a Lack of “Connecting Detail,” in In re Biogen Inc. Securities Litigation, 857 F.3d 34 (May 12, 2017)

In this putative class action, investors alleged that Biogen executives misled the public about the impact on sales of the company’s multiple sclerosis drug Tecfidera after one patient’s death. Plaintiffs alleged violations of…more
 /  Business Organizations, Civil Procedure, Securities Law

Ninth Circuit Extends American Pipe Tolling to Subsequent Class Actions in Resh v. China Agritech, Inc. (May 24, 2017)

Overruling (or, at least, creatively re-characterizing) its own precedent, the Ninth Circuit held in Resh v. China Agritech, Inc., — F.3d —-, 2017 WL 2261024 (9th Cir. May 24, 2017), that the pendency of an earlier uncertified…more
 /  Civil Procedure, Insurance, Securities Law

Wrap-up: “Who is Winning the Securities Class Action War—Plaintiffs or Defendants?”

I am grateful for the enthusiastic feedback I’ve received on my three-part blog post “Who is Winning the Securities Class Action War—Plaintiffs or Defendants?” I especially appreciate the time Kevin LaCroix took to write a post…more
 /  Business Organizations, Civil Procedure, Insurance, Securities Law

Ninth Circuit Applies Omnicare Standard for Pleading False Statements of Opinion to Section 10(b) Claims, in City of Dearborn Heights v. Align Technology (May 5, 2017)

In a matter of first impression in the Ninth Circuit, the court applied the Supreme Court’s Omnicare standard for pleading the falsity of a statement of opinion to a Section 10(b) claim in City of Dearborn Heights Act 345 Police…more
 /  Civil Procedure, Insurance, Mergers & Acquisitions, Securities Law

Who Is Winning the Securities Class Action War—Plaintiffs or Defendants? (Part III)

This is the third of a three-part post that analyzes why plaintiffs are winning the securities class action war and what defendants can do about it…more
 /  Business Organizations, Civil Procedure, Commercial Law & Contracts, Insurance, Securities Law

Who is Winning the Securities Class Action War—Plaintiffs or Defendants? (Part II)

This is the second of a three-part post evaluating who is winning the securities class action war. Part I explained that this war is not just a scorecard of wins and losses, but rather a fight for strategic positioning—about…more
 /  Business Organizations, Civil Procedure, Insurance, Securities Law
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