Misrepresentation, Appeals, Omissions

Summary Judgment Granted Because Reliance on Defendants’ Alleged Misrepresentations Was Not Justifiable

Freiberger Haber LLP on 1/6/2025

The justifiable reliance element has been described as a “fundamental precept” and a “venerable rule”. The requirement is one of the five elements of a fraud cause of action: (1) a misrepresentation or a material omission of...more

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

A&O Shearman on 11/19/2024

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

United States Supreme Court Grants Certiorari To Consider When Already-Materialized Risks Must Be Disclosed

A&O Shearman on 6/18/2024

On June 10, 2024, the United States Supreme Court granted certiorari to review a decision of the United States Court of Appeals for the Ninth Circuit that partially reinstated a putative class action asserting claims under...more

Kirschner v. JP Morgan – Second Circuit Decision

Snell & Wilmer on 9/13/2023

On August 24, 2023, the U.S. Court of Appeals for the Second Circuit rendered its decision in Marc S. Kirschner v. JP Morgan Chase Bank, N.A., et al. At issue in the case was whether promissory notes issued in connection with...more

Second Circuit Limits Reach of SLUSA Preclusion in State Law Variable Annuity Class Action

Sheppard Mullin Richter & Hampton LLP on 4/17/2018

In O’Donnell v. AXA Equitable Life Insurance Co., No. 17-cv-1085, 2018 WL 1720808 (2d Cir. Apr. 10, 2018), the United States Court of Appeals for the Second Circuit reversed an order dismissing a variable annuity...more

Second Circuit Holds That SLUSA Is Not Triggered By A Holder's Passive Retention Of A Security Following An Alleged...

A&O Shearman on 4/17/2018

On April 10, 2018, the United States Court of Appeals for the Second Circuit revived and remanded to state court a putative class action brought against AXA Equitable Life Insurance Company. O’Donnell v. AXA Equitable Life...more

Ninth Circuit Applies Omnicare Standard to Section 10(b) Claims, Tightens Pleading Standard for Securities Fraud

Perkins Coie on 5/11/2017

In City of Dearborn Heights Act 345 Police & Fire Retirement System v. Align Technology, Inc. (Dearborn), the Ninth Circuit established additional requirements for pleading securities fraud claims based on statements of...more

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