News & Analysis as of

Motion to Dismiss Securities and Exchange Commission (SEC)

Goodwin

Securities Litigation Against Life Sciences Companies 2024 Year in Review

Goodwin on

Welcome to our ninth annual report on US securities class actions filed against publicly traded life sciences companies, which include pharmaceutical, biotechnology, medical device, and healthcare companies....more

A&O Shearman

Ninth Circuit Confirms That Sections 11 And 12(a)(2) Of The Securities Act Require A Plaintiff To Plead And Prove Purchase Of...

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The United States Court of Appeals for the Ninth Circuit, on remand from the United States Supreme Court, unanimously reversed the district court’s denial of a technology company’s (the “Company”) motion to dismiss claims...more

Nelson Mullins Riley & Scarborough LLP

Some Securities Stability for Stablecoins: Judge Torres Rules GYEN is not a Security

Although the U.S. Government under President Trump has flipped the script on its approach to cryptocurrency in just a matter of weeks, one big question that is still out there is will the courts chill the recent enthusiasm of...more

A&O Shearman

Northern District Of California Grants Motion To Dismiss Securities Fraud Claim Against Ridesharing Company

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On January 16, 2025, Judge Trina L. Thompson of the United States District Court for the Northern District of California granted a motion to dismiss a securities action asserting claims under Sections 10(b) and 20(a) of the...more

ArentFox Schiff

Investigations Newsletter: California Doctor to Pay $3 Million for Insider Trading

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California Doctor to Pay $3 Million for Insider Trading - On December 18, a California oncologist agreed to pay the US Securities and Exchange Commission (SEC) $3 million to resolve allegations of insider trading. The SEC...more

Ballard Spahr LLP

Another Chapter in the Alpine Securities Saga: District Court Grants Motion to Dismiss Complaint Challenging AML Enforcement...

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In the possible final stage of the Alpine Securities saga, Judge Clark Waddopous of the United States District Court for the District of Utah issued an opinion granting the Securities and Exchange Commission’s (“SEC”) motion...more

A&O Shearman

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

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On September 25, 2024, Judge Orelia E. Merchant of the United States District Court for the Eastern District of New York granted in part and denied in part a motion to dismiss a putative securities class action against an...more

A&O Shearman

Northern District Of California Grants Motion To Dismiss Putative Class Action Against Financial Technology Company For Failure To...

A&O Shearman on

On August 26, 2024, Judge Araceli Martínez-Olguin of the United States District Court for the Northern District of California granted a motion to dismiss a putative securities class action asserting claims under Sections...more

A&O Shearman

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

Quarles & Brady LLP

Prevailing Against FINRA Investor Complaints

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In 2007, the United States Securities and Exchange Commission approved the creation of the Financial Industry Regulatory Authority (FINRA), and the FINRA arbitration forum officially came into being. ...more

A&O Shearman

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

Seward & Kissel LLP

SEC v. Binance: BUSD, BNB, and Simple Earn—a Closer Look

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On June 28, 2024, in SEC v. Binance Holdings Limited, et al., the U.S. District Court for the District of Columbia issued a Memorandum Opinion & Order on the defendants’ motions to dismiss the SEC’s charges against them. ...more

Holland & Knight LLP

Court in SolarWinds Case Blows Down SEC's Cyber Enforcement Authority

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The U.S. District Court for the Southern District of New York on July 18, 2024, dismissed most of the SEC's landmark cyber enforcement litigation against SolarWinds Corp. (SolarWinds or the Company) and the Company's Chief...more

Jenner & Block

Client Alert: Key Takeaways from the Motion to Dismiss Ruling in SEC v. SolarWinds et al.

Jenner & Block on

The SEC’s high-profile litigation against SolarWinds and its Chief Information Security Officer (CISO), Timothy G. Brown, reached a critical turning point on July 18, 2024, when a district court in the Southern District of...more

Orrick, Herrington & Sutcliffe LLP

SEC ordered to pay $1.8 mil. to defendants for misrepresentations

On May 28, the U.S. District Court for the District of Utah ordered the SEC to cover all attorney fees and related costs as part of sanctions imposed following the court’s earlier emergency ex parte relief it entered into...more

Jenner & Block

Client Alert: Takeaways from SEC v. SolarWinds Motion to Dismiss Hearing

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The SEC’s high-profile litigation against SolarWinds and its Chief Information Security Officer (CISO), Timothy Brown, reached a critical juncture on May 15, 2024, when the parties presented oral arguments before Judge Paul...more

A&O Shearman

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

A&O Shearman on

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

A&O Shearman

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

ArentFox Schiff

A Win for the SEC on Shadow Trading. Now What?

ArentFox Schiff on

On April 5, 2014, after an eight-day trial and a few hours of deliberation, a federal jury entered a verdict for the US Securities and Exchange Commission (SEC) and found that Matthew Panuwat had engaged in insider trading...more

Proskauer - Corporate Defense and Disputes

SEC Wins Insider-Trading Suit Alleging “Shadow Trading”

A federal jury in California agreed with the SEC that a corporate official engaged in insider trading when he purchased securities of a company based on material nonpublic information (“MNPI”) about a different company. The...more

Akin Gump Strauss Hauer & Feld LLP

Supreme Court Declines to Review 2nd Circuit Decision That Syndicated Term Loans Are Not Securities

On February 20, 2024, the U.S. Supreme Court declined to hear an appeal brought by the trustee of the Millennium Lender Claim Trust challenging the U.S. Court of Appeals for the 2nd Circuit’s August 2023 decision, in which...more

Gray Reed

Oil Fraud Defendant Tries to Evade SEC Complaint

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We haven’t presented 2023’s Bad Guys in Energy, but we have SEC v. Bowen, Baker, Cannon Operating and others as an example of garden variety securities fraud. The opinion addresses a defendant’s effort to defeat the SEC’s...more

Foley & Lardner LLP

A Review of Recent Whistleblower Developments - October 2023

Foley & Lardner LLP on

Eleventh Circuit Adopts “Totality of the Circumstances” Test for Showing Protected Activity Under SOX and Denies Whistleblower Petition for Review - In Ronnie v. Office Depot, LLC, --- F.4th ----, 2023 WL 6210623 (11th Cir....more

Katten Muchin Rosenman LLP

A Disagreement among Judges in the Same Courthouse Arises in Ruling Denying Motion to Dismiss SEC Enforcement Action against...

One US federal district court judge affirmatively challenged the analysis of another district court judge sitting in the same courthouse in denying defendants’ motion to dismiss in the Securities and Exchange Commission’s...more

Proskauer - The Capital Commitment

Ripples Following the SPAC Wave: Litigation and Regulatory Risks

It’s a pattern we often see in boom-and-bust cycles—disputes rising in the period after a wave crests. SPAC deal volume hit an unprecedented high in 2021, but then slowed down in 2022 alongside IPOs. However, the fallout from...more

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