News & Analysis as of

Motion to Dismiss Putative Class Actions Securities Litigation

A&O Shearman

Central District Of California Grants Motion To Dismiss Putative Securities Class Action Against Plant-Based Meat Substitute...

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On August 9, 2024, Judge Michael W. Fitzgerald of the United States District Court for the Central District of California granted a motion to dismiss a putative securities class action against a producer of plant-based meat...more

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Northern District of California Denies Motion To Dismiss Putative Class Action Based On Financial Services Company’s Alleged...

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On July 29, 2024, Judge Trina L. Thompson of the United States District Court for the Northern District of California denied a motion to dismiss a putative securities class action brought by investors against a financial...more

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Southern District Of New York Grants Motion To Dismiss Putative Securities Class Action Against Cannabis Company For Failure To...

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On July 17, 2024, Judge Paul A. Engelmayer of the U.S. District Court for the Southern District of New York granted a motion to dismiss a putative securities class action against a cannabis company and three of its officers....more

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Middle District Of Florida Grants Motion To Dismiss Putative Securities Class Action Against Autonomous Vehicle Technology Company...

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On May 31, 2024, Judge Julie S. Sneed of the United States District Court for the Middle District of Florida granted a motion to dismiss a putative securities class action against an autonomous vehicle technology company (the...more

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California District Court Grants Motion To Dismiss Investor Class Action Against Rideshare Company

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On May 14, 2024, Judge Rita F. Lin of the United States District Court for the Northern District of California granted a motion to dismiss a putative securities class action against a ridesharing company (the “Company”) and...more

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Northern District Of California Grants Motion To Dismiss Putative Securities Class Action Against Apparel Company For Failing To...

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On May 10, 2024, Judge Araceli Martínez-Olguín of the United States District Court for the Northern District of California granted a motion to dismiss a putative class action against a global footwear and apparel company...more

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District Court Of Massachusetts Denies Communications Infrastructure Company’s Motion To Dismiss Finding Plaintiffs Adequately...

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On October 20, 2022, Judge George A. O’Toole, Jr. of the United States District Court for the District of Massachusetts (the “Court”) denied a motion to dismiss a putative securities class action against a business...more

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Northern District Of California Dismisses Without Prejudice Putative Class Action Against Synthetic Biology Company For Failure To...

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On May 31, 2022, Judge Beth Labson Freeman of the Northern District of California dismissed without prejudice a putative class action asserting claims under the Securities Exchange Act against a synthetic biology company and...more

Goodwin

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

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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

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Federal Judge Dismisses Facebook Investor Class Action Based on Board Diversity

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Federal Judge Dismisses Facebook Investor Class Action Based on Board Diversity, Virginia Federal Judge Denies Motion to Dismiss Claims that Altria Knew JUUL Was Marketing to Underage Consumers, SEC Brings Claims Against AT&T...more

Goodwin

SEC’s Disgorgement Authority Expanded Under National Defense Authorization Act for Fiscal Year 2021

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SEC’s Disgorgement Authority Expanded Under National Defense Authorization Act for Fiscal Year 2021; Delaware Court of Chancery Rejects Derivative Claim Based On Deficient Anti-Money Laundering Compliance Efforts: “Bad...more

Seyfarth Shaw LLP

New York Appellate Division Decides First Securities Act Case Since Cyan

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On December 3, 2020, the New York State Appellate Division for the First Judicial Department dismissed an action alleging claims under the Securities Act of 1933 (the “Securities Act”) in Lyu v. Ruhnn Holdings Limited....more

Goodwin

California Federal Court Denies Motion to Dismiss Securities Class Action Arising from Uber’s IPO

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California Federal Court Denies Motion to Dismiss Securities Class Action Arising from Uber’s IPO; S.D.N.Y. Dismisses Ponzi Scheme Action Against HSBC Hong Kong for Lack of Personal Jurisdiction; Delaware Court of Chancery...more

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Southern District Of New York Dismisses Securities Fraud Action Against Chinese Internet Company Based On Confidential Witness...

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On August 14, 2020, United States District Judge Paul A. Engelmayer dismissed with prejudice a putative securities class action against a Chinese internet company (the “Company”) and its co-founders and a director under...more

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District Of Kansas Allows Exchange Act Claims Against Financial Services Company To Proceed, Finding That Plaintiffs Adequately...

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On December 3, 2019, Judge John W. Lungstrum of the United States District Court for the District of Kansas denied a motion to dismiss a putative securities class action involving claims brought under Sections 10(b) and 20(a)...more

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Delaware Court Of Chancery Dismisses Caremark Claims Against Directors After Company Publicly Disclosed Misconduct

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On October 31, 2019, Vice Chancellor Kathaleen S. McCormick of the Delaware Court of Chancery dismissed a stockholder derivative suit against the directors of LendingClub Corporation for failure to plead demand futility. In...more

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Western District Of Washington Partially Dismisses Exchange Act Claims Against Technology Company

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On October 4, 2019, Judge Robert Lasnik of the United States District Court for the Western District of Washington granted in part and denied in part a motion to dismiss a putative securities class action asserting claims...more

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District Of Nevada Grants In Part And Denies In Part Motion To Dismiss Exchange Act Claims Against Airline Company And Its...

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On September 9, 2019, Judge Andrew P. Gordon of the United States District Court for the District of Nevada partially dismissed a putative securities class action brought against an airline company and certain of its current...more

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Second Circuit Affirms Dismissal Of Putative Securities Class Action, Holding That The Occurrence Of Regulatory Problems Do Not...

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On March 5, 2019, the United States Court of Appeals for the Second Circuit affirmed the dismissal of a putative securities class action against Cigna and several of its officers. Minohor Singh v. Cigna Corporation, et al.,...more

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New Jersey District Court Dismisses Putative Securities Fraud Class Action For Failure To Plead Scienter

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On January 31, 2019, Judge Madeline Cox Arleo of the United States District Court for the District of New Jersey granted with leave to amend defendants’ motion to dismiss a putative securities fraud class action against a...more

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Massachusetts District Court Dismisses Putative Class Action For Failure To Adequately Allege Material Misstatements And Scienter

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On December 6, 2018, Chief Judge Patti Saris of the United States District Court for the District of Massachusetts dismissed a putative class action asserting claims under the Securities Exchange Act of 1934 and Rule 10b-5...more

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Southern District Of New York Denies Motion To Dismiss Putative Securities Class Action Against Diamond Jewelry Retailer, Finding...

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On November 26, 2018, Judge Colleen McMahon of the United States District Court for the Southern District of New York denied a motion to dismiss a putative securities class action against Signet Jewelers Limited (the...more

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Northern District Of California Finds Scienter And Individual Reliance Adequately Pleaded, But Stresses That Issues Respecting...

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On September 7, 2018, Judge Charles Breyer of the United States District Court for the Northern District of California denied a motion to dismiss a second amended putative class action complaint on behalf of Volkswagen...more

Bass, Berry & Sims PLC

Chris Lazarini Provides Insight on Class Action Related to '33 and '34 Act Claims in IPO

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Bass, Berry & Sims attorney Chris Lazarini provided insight on a putative class action involving '33 and '34 Act claims against ReWalk Robotics, Ltd. (ReWalk), and its officers, directors and IPO underwriters. The court...more

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Northern District Of Illinois Finds Material Misstatements Adequately Alleged

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On February 12, 2018, Judge Samuel Der-Yeghiayan of the United States District Court for the Northern District of Illinois denied a motion to dismiss a putative class action under the Securities Exchange Act of 1934 against...more

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