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Misleading Statements Appeals

Fishman Haygood LLP

Plaintiff Counsel’s Mid-Trial Social Media Post Results in Reversal of Jury Verdict in Illinois Court of Appeals

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An Illinois appellate court recently reversed a $43 million jury verdict in a personal injury case (Kroft v. Viper Trans, Inc.)1 involving an automobile collision, remanding the case for another trial—now the third—after the...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

U.S. Supreme Court Draws the Line: Misleading Statements Aren’t Always False

Last week a unanimous U.S. Supreme Court issued an opinion in Thompson v. United States, 2025 WL 876266 (2025), holding that a statement that is literally true but allegedly misleading, is not a “false statement” under 18...more

A&O Shearman

The Ninth Circuit Affirms Dismissal Of Claims Against Hearing Aid Manufacturer Regarding Statements About Insurance Coverage

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On January 10, 2025, the United States Court of Appeals for the Ninth Circuit Court affirmed the dismissal of a putative securities class action brought by a pension plan alleging that a hearing aid manufacturer (the...more

ArentFox Schiff

Investigations Newsletter: Second Circuit Partially Affirms Novartis’ Motion to Dismiss AKS Claims

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Second Circuit Partially Affirms Novartis’ Motion to Dismiss AKS Claims - Last week, the Second Circuit Court of Appeals affirmed the district court’s ruling that dismissed allegations from a whistleblower who claimed that...more

Mintz - Energy & Sustainability Viewpoints

Energy & Sustainability Litigation Updates — December 2024

The SEC continues its focus on greenwashing, despite the recent disbandment of the SEC’s Climate & ESG Task Force.Notably, in the past month, the SEC Department of Examinations has issued a risk alert focused on greenwashing,...more

A&O Shearman

Supreme Court Hears Oral Argument On Standard For Pleading Securities Fraud In Private Civil Suits

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On November 13, 2024, the United States Supreme Court heard oral argument in an appeal from a decision of the United States Court of Appeals for the Ninth Circuit in a putative class action asserting claims under the...more

Holland & Knight LLP

What Is "Natural?"

Holland & Knight LLP on

When it comes to consumer class action litigation, what type of evidence is required to show that labeling nutrition bars as "all natural" violates false advertising and consumer protection laws? According to the plaintiffs...more

Davis Wright Tremaine LLP

Stay ADvised: Brand Protection & Advertising Law News - January 2024

2nd Circuit Affirms Something's Off With Plaintiffs' Suit Against Nature's Bounty for its Fish Oil Claims - The Court of Appeals for the Second Circuit refused to revive a class action lawsuit alleging that Nature's Bounty...more

Perkins Coie

Weekly Notable Ruling Roundup - January 2024

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National Association of Wheat Growers, et al. v. Rob Bonta, - No. 20-16758 (9th Cir.—November 7, 2023): The U.S. Court of Appeals for the Ninth Circuit affirmed summary judgment in the plaintiffs’ favor. The panel held...more

Proskauer - Corporate Defense and Disputes

Second Circuit Clarifies Nature of Actionable Opinions Under Securities Laws

The U.S. Court of Appeals for the Second Circuit held that a statement of opinion that reflects some subjective judgment can nevertheless be actionable under the securities laws if it misleads investors into thinking that the...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

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - May 2023

Supreme Court Hears Argument on Traceability Requirement in Circuit-Split Slack v. Pirani - Key Points - - Before the end of June, the U.S. Supreme Court is expected to issue a decision in a high-profile securities case...more

Hinch Newman LLP

Another U.S. Supreme Court Ruling Erodes Traditional FTC Enforcement Authority Amounting to a Win for Digital Advertisers

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On April 14, 2023, the U.S. Supreme Court afforded defendants the ability to directly challenge the structural constitutionality and existence of the Federal Trade Commission (and the Securities and Exchange Commission) in...more

Harris Beach Murtha PLLC

E.V. Manufacturer Cruises to Victory on Appeal with Specific, Robust Disclosures

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New York’s Appellate Division, First Department recently affirmed dismissal, with prejudice, of a securities class action lawsuit against Chinese electric vehicle manufacturer NIO, Inc. The suit, captioned Donlon v. NIO,...more

Proskauer - Corporate Defense and Disputes

Second Circuit Reverses Dismissal of Securities Claim Alleging Failure to Disclose SEC Investigation

The Court of Appeals for the Second Circuit yesterday reversed the dismissal of a securities class action alleging fraud based on the defendants’ failure to disclose an SEC investigation into the company’s disclosed...more

Smith Anderson

Marriott Investor’s Security Fraud Claims Arising from Data Breach Rejected by Fourth Circuit

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The Fourth Circuit dismissed an investor’s lawsuit against a hotel chain that had been subject to a data breach, ruling that the company had not made false or misleading public statements about its protection of customer...more

Foley Hoag LLP - State AG Insights

Losses Continue to Mount For ExxonMobil in its Fight to Prevent State Attorney General Climate Investigations

On March 15, 2020, the Second Circuit rejected an appeal brought by ExxonMobil attempting to block investigations by the New York and Massachusetts Attorneys General into historical claims made by Exxon regarding climate...more

K&L Gates LLP

Seventh Circuit Strikes Down Delaware Forum Selection Clause and Clears Path to Federal Court for Securities Exchange Act Claims

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The Seventh Circuit issued a resounding message: Delaware forum selection clauses in corporate bylaws cannot lawfully prevent a plaintiff from bringing claims under the Securities Exchange Act of 1934 (the Exchange Act or the...more

Eversheds Sutherland (US) LLP

Stymied fraud prosecutions could force DOJ prosecutors to reevaluate their strategy

On January 27, 2022, the United States Court of Appeals for the Second Circuit issued a decision in United States v. Connolly, overturning the 2018 fraud convictions of two former traders at a large financial institution. A...more

Goodwin

Northern District of California Dismisses Shareholder Derivative Suit Concerning Lack of Diversity

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Northern District of California Dismisses Shareholder Derivative Suit Concerning Lack of Diversity; Delaware Court of Chancery Dismisses Stockholder Suit Against Medical Device Company for Failure to Plead Demand Futility;...more

Goodwin

Northern District of California Kicks Shareholder Derivative Suit Against Alphabet, Inc. for Failing to Allege Demand Futility

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Northern District of California Kicks Shareholder Derivative Suit Against Alphabet, Inc. For Failing to Allege Demand Futility; Rare Securities “Holder’s Claim” Trial Results in Jury Verdict for Defendants; Delaware Court of...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

Ervin Cohen & Jessup LLP

Ninth Circuit: Trader Joe’s Chicken Labeling Claims Federally Preempted

On June 4, 2021, a panel of judges from the Ninth Circuit Court of Appeals affirmed the dismissal of consumer poultry labeling claims against Trader Joe’s on the ground that those claims were federally preempted. The consumer...more

Kramer Levin Naftalis & Frankel LLP

Avoiding Board Observer Liability Under Section 11 of the Securities Act of 1933

Lenders and other constituencies will under certain circumstances request and be granted “board observer” rights pursuant to a loan agreement or other contract. The potential legal liability of board observers under various...more

Carlton Fields

Supreme Court Casts a Wide Net with Rule 10b-5

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The U.S. Supreme Court recently held that someone doesn’t need to have “made” a false or misleading statement to have primary liability under the securities fraud rules. ...more

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