Misrepresentation, Appeals, Securities Litigation

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

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

Goodwin on 7/29/2021

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

New York Federal Court Dismisses Securities Fraud Claims Against Alkermes For Lack Of Fraudulent Intent

Goodwin on 3/11/2021

New York Federal Court Dismisses Securities Fraud Claims Against Alkermes for Lack of Fraudulent Intent; Fourth Circuit Affirms District Court’s Denial of Leave to File Amended Complaint Against Triangle Capital as Futile;...more

Class Size Doesn’t Matter—Seventh Circuit Holds That Federal Law Bars Private Securities Class Actions Brought Under State Law...

Sheppard Mullin Richter & Hampton LLP on 1/30/2019

In Nielen-Thomas v. Concorde Investment Servs., LLC, No. 18-2875, 2019 WL 302766 (7th Cir. Jan. 24, 2019), the United States Court of Appeals for the Seventh Circuit held that the Securities Litigation Uniform Standards Act...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