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Misrepresentation Class Action Securities Litigation

A&O Shearman

Southern District Of New York Grants Motion For Judgment On The Pleadings In Securities Class Action Against Software Company

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On March 7, 2025, Judge John P. Cronan of the Southern District of New York granted a motion for judgment on the pleadings in a putative class action asserting claims under Sections 11 and 15 of the Securities Act of 1933...more

A&O Shearman

Southern District Of New York Dismisses Securities Act Claims Against Railroad Company For Failure To Adequately Allege Actionable...

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On February 27, 2025, Judge Lewis A. Kaplan of the United States District Court for the Southern District of New York dismissed a putative class action asserting claims under the Securities Act of 1933 against a railroad...more

A&O Shearman

Southern District Of New York Grants In Part And Denies In Part Motion To Dismiss Claims In Securities Class Action Against...

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On January 27, 2025, Judge Jesse M. Furman of the United States District Court for the Southern District of New York partially granted a motion to dismiss a putative securities class action asserting claims under Sections...more

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

A&O Shearman

Second Circuit Affirms District Court’s Summary Judgment Dismissal Of Securities Fraud Class Action Against Pharmaceutical Company

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On April 15, 2024, the United States Court of Appeals for the Second Circuit affirmed in a non-precedential summary order the summary judgment dismissal of securities fraud claims against a pharmaceutical company (the...more

A&O Shearman

First Department Of New York Affirms Dismissal Of Securities Claims Against Mass Media And Entertainment Company

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On April 4, 2024, the State of New York, Appellate Division, First Judicial Department (the “First Department”) affirmed dismissal of a securities class action against a mass media and entertainment company (the “Company”)...more

Stikeman Elliott LLP

Ontario’s Top Court Affirms Evidentiary Principles on Motions for Leave to Commence a Secondary Market Misrepresentation Action

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In Drywall Acoustic Lathing and Insulation (Pension Fund, Local 675) v. Barrick Gold Corporation, 2024 ONCA 105, the Ontario Court of Appeal affirmed the lower court’s decision denying in part the motion for leave to commence...more

A&O Shearman

Southern District Of New York Dismisses Proposed Securities Class Action Against Biopharmaceutical Company Alleging Failure To...

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On February 4, 2024, Judge Arun Subramanian of the United States District Court for the Southern District of New York dismissed a proposed securities class action against a biopharmaceutical company (the “Company”) alleging...more

A&O Shearman

Eastern District Of Pennsylvania Dismisses Purported Securities Fraud Class Action Against IT Services Company For Failure To...

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On February 1, 2024, Judge Gerald J. Pappert of the United States District Court for the Eastern District of Pennsylvania granted a motion to dismiss a putative securities class action against an IT solutions company that...more

A&O Shearman

Eastern District Of New York Dismisses Proposed Securities Class Action Against Lithium Mining Company For Failure To Sufficiently...

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On January 19, 2024, Judge Orelia Merchant of the United States District Court for the Eastern District of New York dismissed a proposed securities class action against a lithium mining company (the “Company”) and certain of...more

A&O Shearman

Southern District Of Florida Grants In Part And Denies In Part Motion To Dismiss Proposed Securities Class Action Against Electric...

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On November 27, 2023, Judge Kathleen M. Williams of the United States District Court for the Southern District of Florida granted in part and denied in part a motion to dismiss a proposed securities class action alleging that...more

A&O Shearman

Northern District Of California Grants Motion To Dismiss Amended Securities Class Action Complaint Against Hearing Aid Company

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On August 31, 2023, Judge Charles R. Breyer of the United States District Court for the Northern District of California granted a motion to dismiss a putative securities class action alleging that a hearing aid company, its...more

A&O Shearman

Southern District Of New York Dismisses Proposed Securities Class Action Complaint Against Drug Manufacturer For Failure To Plead...

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On September 25, 2023, Judge Lorna Schofield of the United States District Court for the Southern District of New York granted a motion to dismiss a proposed class action against a biopharmaceutical company (the “Company”)...more

Carlton Fields

Eleventh Circuit Affirms Dismissal of Securities Fraud Class Action for Failure to Plead Corporate Scienter in Alleged Fraudulent...

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The Eleventh Circuit Court of Appeals recently affirmed the dismissal of a purported securities fraud class action, because lower-level corporate officials with knowledge of an alleged fraudulent sales scheme were not...more

A&O Shearman

District Of Minnesota Dismisses Exchange Act Claims Against Mattress Company With Prejudice, Finding Investors Failed To...

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On July 10, 2023, Chief Judge Patrick J. Schiltz of the United States District Court for the District of Minnesota granted a motion to dismiss a putative securities fraud class action against a mattress and bedding company...more

A&O Shearman

Southern District Of New York Denies Food Delivery Company’s Motion To Dismiss Securities Class Action

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On July 25, 2023, Judge Jed S. Rakoff of the United States District Court for the Southern District of New York denied a motion to dismiss a putative securities class action against an online food ordering and delivery...more

A&O Shearman

Fourth Circuit Affirms Dismissal Of Putative Class Action Against Biopharmaceutical Company For Failure To Allege Scienter And...

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On July 24, 2023, the United States Court of Appeals for the Fourth Circuit affirmed the dismissal of claims under Sections 10(b), 14(a), and 20(a) of the Securities Exchange Act of 1934 against a biopharmaceutical company...more

A&O Shearman

Fourth Circuit Affirms Dismissal Of Suit Against Online Education Platform

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On November 22, 2022, the United States Court of Appeals for the Fourth Circuit affirmed the dismissal of a putative class action against an online education platform (the “Company”) under Sections 10(b) and 20(a) of the...more

A&O Shearman

Eastern District Of New York Court Grants In Part Motion To Dismiss Putative Securities Class Action Brought Against Space...

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On November 7, 2022, Judge Allyne R. Ross of the United States District Court for the Eastern District of New York granted in part a motion to dismiss a putative securities class action against a space exploration company...more

A&O Shearman

Eastern District Of New York Grants In Part And Denies In Part Motion To Dismiss Securities Fraud Class Action Against Mattress...

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On September 30, 2022, Judge Margo K. Brodie of the Unites States District Court for the Eastern District of New York granted in part and denied in part a motion to dismiss a securities fraud class action against a bedding...more

A&O Shearman

Northern District Of California Largely Denies Motion To Dismiss Securities Fraud Class Action Against Biopharmaceutical Company

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On July 15, 2022, Judge Edward M. Chen of the United States District Court for the Northern District of California largely denied a motion to dismiss a securities fraud class action against a biopharmaceutical company (the...more

Jones Day

Recent Motion-to-Dismiss Decisions Underscore Uncertain Litigation Prospects for SPAC Participants

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The use of SPACs to take companies public increased dramatically in recent years, but many of these new companies performed poorly after entering the public capital markets. This poor performance, often accompanied by...more

A&O Shearman

Northern District Of California Grants Motion To Dismiss Securities And Exchange Act Claims Against Mobile Gaming Technology...

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On July 5, 2022, Chief Judge Richard Seeborg of the Northern District of California granted motions to dismiss a putative securities class action asserting claims under Section 10(b) of the Securities Exchange Act of 1934...more

A&O Shearman

Ninth Circuit Affirms Decision Dismissing Securities Class Action Against Medical Device Manufacturer For Failure To Allege An...

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On July 7, 2022, a panel of the United States Court of Appeals for the Ninth Circuit affirmed the district court’s dismissal of a putative securities fraud class action against a medical device manufacturer company (the...more

Proskauer - Corporate Defense and Disputes

Divided Delaware Supreme Court Decision Highlights Issues About Director Independence in Derivative Actions

The Delaware Supreme Court recently affirmed a Court of Chancery ruling granting a Special Litigation Committee’s motion to terminate a shareholder derivative action that had survived a motion to dismiss. The split decision...more

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