News & Analysis as of

Motion to Dismiss Class Action PSLRA

Woodruff Sawyer

Securities Motion to Dismiss Trends (Part 1): The Northern District of California

Woodruff Sawyer on

In securities class actions, the motion to dismiss is the key event. If the company wins, the case goes away and costly discovery is avoided. If shareholders win, a significant settlement in the future is likely. In these...more

Cornerstone Research

Opt-Outs in Securities Class Action Settlements More Likely in Recent Years, Especially for Large and Complex Cases

Cornerstone Research on

The percentage of securities class action settlements with at least one putative class member opting out has increased in recent years, according to a new report by Cornerstone Research in conjunction with Latham & Watkins...more

Proskauer - Corporate Defense and Disputes

Fifth Circuit Revives Securities Class Action Against Six Flags

Last week, the Fifth Circuit reversed a decision from the United States District Court for the Northern District of Texas that had dismissed a class action against Six Flags Entertainment Corporation. The complaint in...more

Proskauer - Corporate Defense and Disputes

Supreme Court to Decide Whether Discovery Stays Apply to State-Court Securities Lawsuits This Fall

One of the most significant differences between bringing a securities lawsuit in state versus federal court is the application of the mandatory discovery stay set forth in the Private Securities Litigation Reform Act (the...more

Goodwin

Eighth Circuit Overturns Class Certification in Suit Against TD Ameritrade Holding Corp., Holding Individualized Evidence Is...

Goodwin on

Eighth Circuit Overturns Class Certification in Suit Against TD Ameritrade Holding Corp., Holding Individualized Evidence is Required for Each Putative Class Member; District Judge Approves Magistrate’s Recommendation to Deny...more

Perkins Coie

Ninth Circuit Rejects Securities Fraud Thesis That Did Not “Make a Whole Lot of Sense”

Perkins Coie on

In its June 10, 2020, opinion in Nguyen v. Endologix, the U.S. Court of Appeals for the Ninth Circuit applied the plausibility standard to a plaintiff’s securities fraud claims and affirmed the district court’s dismissal,...more

Jones Day

New York Commercial Division Imposes PSLRA Discovery Stay in Securities Act Class Action

Jones Day on

A recent decision by the New York Commercial Division held that the Private Securities Litigation Reform Act's automatic stay of discovery pending a motion to dismiss applies to Securities Act claims pursued in state court,...more

Sheppard Mullin Richter & Hampton LLP

Commercial Division Justices Provide Dueling Approaches to Discovery Stays in State Court Securities Litigation

In In re Everquote, Inc. Securities Litigation, 2019 N.Y. Slip Op. 29242, No. 651177/2019, 2019 WL 3686065 (Sup. Ct. N.Y. Cnty. Aug. 7, 2019), Justice Andrew Borrok of the New York County Commercial Division stayed discovery...more

WilmerHale

New York Commercial Division Justice Holds PSLRA Discovery Stay Applies To State Court Securities Act Class Actions

WilmerHale on

On August 6, 2019, New York Commercial Division Justice Andrew Borrok held that the discovery stay under the Private Securities Litigation Reform Act (PSLRA) applies to Securities Act claims filed in state court, and entered...more

A&O Shearman

Northern District Of California Grants In Part And Denies In Part Motion To Dismiss Class Action Against Online Platform Devoted...

A&O Shearman on

On November 27, 2018, Judge Edward M. Chen of the United States District Court for the Northern District of California granted in part and denied in part a motion to dismiss a putative securities class action against Yelp,...more

Troutman Pepper Locke

9th Circ. Makes Motions to Dismiss More Difficult in Securities Litigation

Troutman Pepper Locke on

On Aug. 13, a panel of the U.S. Court of Appeals for the Ninth Circuit issued an opinion in a securities fraud class action, Khoja v. Orexigen Therapeutics, No. 16-56069 2018 U.S. App. LEXIS 22371 (9th Cir. Aug. 13, 2018),...more

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