News & Analysis as of

Class Certification Securities and Exchange Commission (SEC)

Dechert LLP

Securities and Derivative Litigation: Quarterly Update - November 2024

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Highlight the steady pace of filings for artificial intelligence-related securities class actions; Analyze an opinion by the Eastern District of Michigan denying class certification and illustrating how courts are...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - October 2024

Ninth Circuit Affirms Dismissal of Insider Trading Claims Against Satellite Operator Investors Based on Stock Sales After FCC Chairman Vote - In re Silver Lake Grp., LLC Sec. Litig. (9th Cir. July 24, 2024) What to...more

Jones Day

2023 Securities Litigation Year in Review

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During 2023, securities lawsuit filings rose for the first time in four years. Settlements declined last year; there were nine mega-settlements of more than $100 million, including a $1 billion settlement. Case filings...more

Dechert LLP

Securities and Derivative Litigation: Quarterly Update - November 2023

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With just one quarter remaining in 2023, securities and derivative litigation continues to develop with new standards being articulated or clarified, particularly by decisions within the Second Circuit: The Second...more

Mintz - Securities Litigation Viewpoints

Second Circuit Clarifies the Circumstances in Which Presumptions Can Be Used To Support Federal Securities Fraud Class Action...

On August 10, 2023, the U.S. Court of Appeals for the Second Circuit took an important step in Arkansas Teacher Retirement System v. Goldman Sachs Group toward clarifying the circumstances in which federal class action...more

Patterson Belknap Webb & Tyler LLP

Third Time’s the Charm: Goldman Sachs Secures Class Decertification in Latest 2nd Circuit Clash Over Tainted CDO

On August 10, 2023, the Second Circuit Court of Appeals granted an emphatic victory to Goldman Sachs, Inc. in its long-running battle to snuff a securities fraud class action arising from conflicts of interest related to...more

Bracewell LLP

Generic ESG Statements and Securities Class Actions: Goldman Sachs Secures Second Circuit Victory in Long-Running Class...

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A three-judge panel for the US Court of Appeals for the Second Circuit reversed a district court’s class certification in the decade-long Arkansas Teacher Retirement System v. Goldman Sachs Group litigation regarding...more

Jones Day

2022 Securities Litigation Year in Review

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During 2022, securities case filings fell for the fourth consecutive year and were down slightly from 2021. The number of announced settlements rose substantially last year, as did total settlement amounts. The 2022...more

Goodwin

Appeal of Certification of Nationwide Class in ERISA Lawsuit

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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

Bracewell LLP

SEC Brings First Major ESG Enforcement Action

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More than a year after creating its Climate and ESG Task Force in March 2021, the Securities and Exchange Commission’s ESG-related enforcement goals are finally being realized. The SEC recently brought a fraud action against...more

Goodwin

District Court Denies Payday Lender's Bid To Dismiss SEC Enforcement Action

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District Court Denies Payday Lender's Bid To Dismiss SEC Enforcement Action; Delaware Chancery Court Dismisses Camping World Insider Trading Derivative Suit; California Federal Judge Certifies Class Of Apple Common-Stock...more

Foley & Lardner LLP

Class Certification Analysis in a Cryptocurrency Case: Williams v. Kucoin

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A recent class certification decision out of the Southern District of New York provides insights on how courts will analyze the requirements for class certification, at least at the initial stage, in cases involving...more

Goodwin

SCOTUS Grants Certiorari to Decide Whether Automatic Discovery Stay Applies to Securities Act Cases in State Court

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SCOTUS Grants Certiorari to Decide Whether Automatic Discovery Stay Applies to Securities Act Cases in State Court; Delaware Court of Chancery Dismisses Stockholder Suit Against FedEx for Failure to Make Pre-Litigation...more

Goodwin

House Votes to Repeal OCC True Lender Rule

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In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

Dechert LLP

Securities & Derivative Litigation: Quarterly Update - Q2 2021

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As securities class actions are being filed at a slower pace over the past year, a few notable developments continued into the second quarter of 2021. In particular, the U.S Supreme Court clarified an important issue...more

Foley & Lardner LLP

Supreme Court Clarifies, but Declines to Significantly Alter, Class Certification Battleground in Securities-Fraud Class Actions

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Defendants have historically faced an uphill battle to defeat class certification in securities-fraud class actions. The United States Supreme Court’s recent decision in Goldman Sachs Group, Inc. v. Arkansas Teacher...more

Goodwin

Massachusetts Superior Court BLS Finds No Duty To Disclose Alleged Preliminary Merger Discussions

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Massachusetts Superior Court BLS Finds No Duty to Disclose Alleged Preliminary Merger Discussions, Northern District of California Declines to Dismiss Oracle Fraud Class Action Suit, SCOTUS Hears Oral Argument in Goldman...more

Proskauer Rose LLP

Supreme Court to Consider Securities Class Action Issue

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On December 11, 2020, the United States Supreme Court granted certiorari in a shareholder securities litigation against Goldman Sachs. On appeal, Goldman argues that federal securities law permits issuer defendants in...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between July and October 2020. Class Certification - Cryptocurrency – Definition of a Security - Derivative...more

Alston & Bird

Class Action & MDL Roundup – Summer 2020

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Welcome back to the Class Action & MDL Roundup! Our summer edition covers notable class actions from the second quarter of 2020. In this edition, the Judicial Panel on Multidistrict Litigation (JPML) weighed in on several...more

BakerHostetler

Recent Securities Class Actions Targeting ICOs Raise Variety of Complex Legal Issues

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On April 3, 2020, exactly one year after the Securities and Exchange Commission (SEC) issued its “Framework for ‘Investment Contracts’ Analysis of Digital Assets” (Framework), 11 class action lawsuits were filed in the...more

A&O Shearman

Central District Of California Denies Class Certification Of Securities Act Claims Because Common Issues Found Not To Predominate...

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On March 13, 2020, Judge Philip S. Gutierrez of the United States District Court for the Central District of California denied class certification in an action against a restaurant franchising company and certain of its...more

A&O Shearman

District Of Nevada Denies Motion To Dismiss Putative Class Action Against Life Science Company Alleging Misstatements Regarding...

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On December 10, 2019, Judge Jennifer A. Dorsey of the United States District Court for the District of Nevada denied a motion to dismiss a putative securities class action asserting claims under Section 10(b) of the...more

King & Spalding

Fourth Circuit Certifies “Unicorn” Defendant Class

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In Bell v. Brockett, the Fourth Circuit affirmed the certification of a class of defendants, a rare procedural maneuver that the court referred to as a “unicorn.” ...more

A&O Shearman

District Of Connecticut Certifies Class In Cryptocurrency Mining Suit, Holding That Proposed Class Could Establish Reliance Based...

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On June 21, 2019, Judge Michael P. Shea of the United States District Court for the District of Connecticut granted plaintiffs’ motion to certify a class of investors in an action alleging that two cryptocurrency companies...more

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