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Dismissal With Prejudice Securities Exchange Act

Goodwin

Dismissal of Putative Securities Class Action for Bellus Health, Inc.

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On September 21, 2022, U.S. District Judge George B. Daniels of the Southern District of New York dismissed with prejudice a putative securities class action against BELLUS Health, Inc. and certain of its officers....more

Dorsey & Whitney LLP

Cybersecurity, False Statements and Omissions

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Cybersecurity and the related disclosures can be critical issues for any company in today’s environment. This question is at the center of a recent decision by the Fourth Circuit Court of Appeals....more

Goodwin

Delaware Supreme Court Holds Appraisal Action Is Not “Securities Claim” Covered By D+O Insurance Policy

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Delaware Supreme Court Holds Appraisal Action is Not “Securities Claim” Covered by D&O Insurance Policy; Delaware Supreme Court Affirms Dismissal of Derivative Claims Against Life Sciences Company For Failure to Plead Demand...more

Goodwin

California State Court Upholds Exclusive Federal Forum-Selection Charter Provision for 1933 Act Suits

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California State Court Upholds Exclusive Federal Forum-Selection Charter Provision for 1933 Act Suits; California District Court Dismisses Fraud-Related Claims Against AT&T; Third Circuit Holds Challenge to SEC’s Decision to...more

A&O Shearman

District Of Maryland Dismisses Post-Merger Securities Class Action, Finding Omission Of Public Information Relating To Financial...

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On December 4, 2019, Judge Ellen L. Hollander of the United States District Court for the District of Maryland dismissed with prejudice a stockholder class action suit against Gramercy Property Trust (“Gramercy” or the...more

A&O Shearman

Southern District Of New York Denies Motion To Revive Exchange Act Claims Against Underwriter Of Regulation A+ Offering, Based On...

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On November 15, 2019, Judge Denise Cote of the United States District Court for the Southern District of New York denied a motion seeking to revive claims under the Securities Exchange Act of 1934 against the underwriter of a...more

A&O Shearman

Second Circuit Summarily Affirms Dismissal Of Putative Securities Fraud Class Action Against Pharmacy Benefits Manager Company,...

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On May 7, 2019, the United States Court of Appeals for the Second Circuit summarily affirmed the judgment by Judge Edgardo Ramos of the United States District Court for the Southern District of New York granting defendants’...more

A&O Shearman

District of Colorado Dismisses Putative Class Action Against Restaurant Chain For Failure To Adequately Allege Misstatements Or...

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On March 29, 2019, Judge Wiley Y. Daniel of the United States District Court for the District of Colorado dismissed with prejudice a putative securities class action asserting claims under the Securities Exchange Act of 1934...more

A&O Shearman

Southern District Of New York Dismisses Putative Securities Class Action Against Electronics Manufacturer, Finding That The...

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On October 10, 2018, Judge Paul G. Gardephe of the United States District Court for the Southern District of New York issued a memorandum opinion and order setting forth the reasoning for his September 30, 2018, dismissal of...more

A&O Shearman

Exchange Act Claims Dismissed Against Solar Energy Company For Plaintiffs' Failure To Allege Falsity Of Optimistic Projections Or...

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On October 9, 2018, Judge Richard Seeborg of the United States District Court for the Northern District of California dismissed with prejudice a putative class action against a solar energy company (the “Company”) and certain...more

A&O Shearman

Northern District Of Texas Dismisses With Prejudice Accounting-Related Claims For Failure To Adequately Allege Scienter

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On September 11, 2018, Judge Barbara M. G. Lynn of the United States District Court for the Northern District of Texas dismissed with prejudice a third amended putative class action complaint against Global Power Equipment...more

A&O Shearman

District Of Massachusetts Dismisses Putative Securities Class Action For Failure Adequately To Allege A Material Misstatement Or...

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On June 18, 2018, Judge William G. Young of the United States District Court for the District of Massachusetts dismissed with prejudice a putative securities class action against Acacia Communications, Inc. (the “Company”),...more

A&O Shearman

Southern District Of New York Dismisses With Prejudice Putative Securities Fraud Class Action Against Pharmacy Benefits Manager...

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On May 22, 2018, Judge Edgardo Ramos of the United States District Court for the Southern District of New York dismissed with prejudice a putative securities fraud class action against pharmacy benefits manager Express...more

A&O Shearman

Southern District Of Florida Dismisses Putative Securities Class Action, Finding Vague And Generalized Statements Regarding...

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On Monday, April 30, 2018, Judge Robin L. Rosenberg of the United States District Court for the Southern District of Florida dismissed a consolidated putative securities class action against financial services company Ocwen...more

Dechert LLP

Southern District Deals Blow to FCPA-Based Securities Class Actions

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When a public company resolves a Foreign Corrupt Practices Act (FCPA) investigation by either the U.S. Department of Justice (DOJ) or Securities and Exchange Commission (SEC), private litigation by investors under the...more

A&O Shearman

Southern District Of New York Dismisses Exchange Act Claims Alleging Failure To Properly Disclose Potential FCPA Violations

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On March 30, 2018, the United States District Court for the Southern District of New York dismissed with prejudice a class action complaint against Embraer S.A. (“Embraer” or the “Company”) and several of its officers,...more

A&O Shearman

Ninth Circuit Upholds Dismissal With Prejudice Of Class Action Lawsuit Due To Failure To Sufficiently Allege Loss Causation And...

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On November 21, 2017, the United States Court of Appeals for the Ninth Circuit affirmed a dismissal by Judge Jon S. Tigar of the United States District Court for the Northern District of California of a putative class action...more

A&O Shearman

Southern District Of New York Dismisses Securities Fraud Suit Against La Quinta Holdings, Inc., Finding No Adequately Alleged...

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On August 24, 2017, Judge Alison J. Nathan of the United States District Court for the Southern District of New York dismissed with prejudice a putative securities class action against hotel chain La Quinta Holdings, Inc....more

A&O Shearman

Eastern District Of Wisconsin Dismisses Securities Fraud Allegations Based On Accounting Errors For Failure To Sufficiently Plead...

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On July 20, 2017, Judge J.P. Stadtmueller of the United States District Court for the Eastern District of Wisconsin dismissed claims brought by shareholders of Kohl’s Corporation (“Kohl’s”) against the company and two of its...more

A&O Shearman

District Of Massachusetts Dismisses Putative Securities Class Action, Finding Vague And Generalized Allegations To Be...

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On June 6, 2017, United States District Judge George A. O’Toole, Jr. of the United States District Court for the District of Massachusetts dismissed with prejudice a putative securities class action against Sonus Networks,...more

A&O Shearman

Eastern District Of New York Dismisses Securities Class Action, Finding That Online Marketplace Did Not Mislead Investors During...

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On March 16, 2017, District Judge Ann M. Donnelly of the United States District Court for the Eastern District of New York dismissed with prejudice a putative class action against Etsy, Inc., its CEO, CFO, certain of its...more

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