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Putative Class Actions Dismissals Scienter

A&O Shearman

Southern District Of New York Dismisses Putative Class Action Against Technology Company For Failure To Adequately Allege...

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On March 19, 2025, Judge Paul A. Engelmayer of the United States District Court for the Southern District of New York dismissed with prejudice a putative class action asserting claims under the Securities Exchange Act of 1934...more

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United States Supreme Court Dismisses NVIDIA Appeal As “Improvidently Granted,” The Second Such Dismissal This Term

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On December 11, 2024, the United States Supreme Court issued a one-sentence decision dismissing the appeal—after having already heard oral argument—in a putative class action asserting claims under the Securities Exchange Act...more

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Southern District Of New York Dismisses Securities Act Claims As Untimely And Pares Claims In Putative Class Action Against...

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On November 4, 2024, Judge Denise L. Cote of the United States District Court for the Southern District of New York granted in part and denied in part a motion to dismiss a putative class action brought under Sections 10b-5...more

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District Of New Jersey Dismisses Putative Securities Class Action Against Pool Equipment Company

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On October 2, 2024, Judge William J. Martini of the United States District Court for the District of New Jersey dismissed a putative class action against a pool equipment company (the “Company”), its private equity majority...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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United States Supreme Court Grants Certiorari To Consider The Application Of Heightened Pleading Standards Of The PLSRA For...

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On June 17, 2024, the Supreme Court granted certiorari to review a decision of the United States Court of Appeals for the Ninth Circuit reversing the dismissal of a putative class action asserting claims under the Securities...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

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - December 2023

The U.S. Supreme Court will likely decide before the end of its current term whether the failure to make a disclosure pursuant to Item 303 of Regulation S-K can serve as the basis for a securities fraud claim under Section...more

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Eleventh Circuit Affirms Dismissal Of Putative Class Action Against Direct-To-Consumer Marketing Company For Failure To Adequately...

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On August 8, 2023, the United States Court of Appeals for the Eleventh Circuit affirmed the dismissal of a putative class action asserting claims under the Securities Exchange Act of 1934 against a direct-to-consumer...more

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Southern District Of New York Dismisses Putative Class Action Against Financial Institution For Failure To Adequately Allege...

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On March 31, 2023, Judge John P. Cronan of the United States District Court for the Southern District of New York dismissed a putative class action asserting claims under the Securities Exchange Act of 1934 against a...more

Goodwin

Dismissal of Putative Securities Class Action for Citrix Systems, Inc.

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In an opinion entered in the case on January 3, 2023, U.S. District Judge Raag Singhal of the Southern District of Florida dismissed with prejudice a putative securities class action complaint against Citrix Systems, Inc....more

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Northern District Of California Dismisses Putative Class Action Against Enterprise Data Platform

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On October 25, 2022, Judge Maxine M. Chesney of the United States District Court for the Northern District of California granted a motion to dismiss a putative class action against an enterprise data cloud platform company...more

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Southern District Of New York Dismisses Putative Class Action Against Pharmaceutical Company For Failure To Adequately Allege...

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On September 12, 2022, Judge J. Paul Oetken of the United States District Court for the Southern District of New York dismissed with prejudice a putative class action asserting claims under the Securities Exchange Act of 1934...more

Goodwin

Delaware Chancery Court Dismisses Cigna Derivative Suit Over Failed Anthem Merger

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Delaware Chancery Court Dismisses Cigna Derivative Suit Over Failed Anthem Merger; The PCAOB Sanctions Former KPMG Vice Chair Of Audit For Failure To Supervise Senior Members Of KPMG's Audit Practice; Ninth Circuit Affirms...more

Goodwin

Second Circuit Affirms Dismissal of Securities Fraud Class Action Against Alkermes

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Second Circuit Affirms Dismissal of Securities Fraud Class Action Against Alkermes; Delaware Court of Chancery Allows SPAC Litigation to Proceed; Ex-Theranos CEO Elizabeth Holmes Convicted on Four Counts of Fraud; Second...more

Goodwin

Delaware Federal Court Dismisses Shareholder Derivative Suit Concerning Lack of Board Diversity

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Delaware Federal Court Dismisses Shareholder Derivative Suit Concerning Lack of Board Diversity; California Federal Court Dismisses Shareholder Class Action Against Sorrento Therapeutics Regarding COVID-19 Treatment; Delaware...more

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Eighth Circuit Affirms Dismissal Of Putative Securities Class Action For Failure To Adequately Allege Falsity And Scienter

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On October 18, 2021, the United States Court of Appeals for the Eighth Circuit affirmed a decision of the United States District Court for the Southern District of Iowa dismissing a putative securities class action asserting...more

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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

Goodwin

Biogen Inc. Wins Some, Loses Some, in Delaware Chancery Court Corporate Records Suit

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Biogen Inc. Wins Some, Loses Some, In Delaware Chancery Court Corporate Records Suit; Southern District of Florida Dismisses Securities Fraud Class Action Against Norwegian Cruise Lines Stemming From Alleged Impacts of...more

Goodwin

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

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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

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Northern District Of California Dismisses Putative Securities Act Class Action Against Cloud-Based Storage Provider For Failure To...

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On October 21, 2020, Judge Beth Labson Freeman of the United States District Court for the Northern District of California dismissed a putative securities class action against a large online cloud-based storage provider (the...more

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Northern District Of California Dismisses Putative Class Action Against Technology Company For Failure To Adequately Allege...

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On March 16, 2020, Judge Haywood S. Gilliam, Jr. of the United States District Court for the Northern District of California dismissed a putative class action against a technology company and its executives asserting claims...more

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Central District Of California Dismisses Putative Class Action Against Real Estate Investment Trust For Failure To Adequately...

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On February 21, 2020, Judge George H. Wu of the United States District Court for the Central District of California adopted as final its tentative ruling, dated February 20, dismissing a putative class action asserting claims...more

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Tenth Circuit Affirms Dismissal Of Putative Class Action For Failure To Adequately Allege Scienter

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On February 25, 2020, the United States Court of Appeals for the Tenth Circuit affirmed the dismissal of a putative class action asserting claims under Section 10(b) of the Securities Exchange Act of 1934 against a...more

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Maryland District Court Dismisses Majority Of Claims In Putative Class Action Against Media Company

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On February 4, 2020, Judge Catherine C. Blake of the United States District Court for the District of Maryland dismissed certain claims in a putative class action asserting claims under Section 10(b) of the Securities...more

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