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Putative Class Actions PSLRA Dismissals

A&O Shearman

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

Morrison & Foerster LLP - Left Coast Appeals

This Week At The Ninth: Appellate Standing

This week, the Ninth Circuit considers when an unnamed plaintiff in a putative class action has standing to appeal. MARK HABELT AND PUBLIC EMPLOYEES’ RETIREMENT SYSTEM OF MISSISSIPPI V. IRHYTHM TECHNOLOGIES, INC. ET AL....more

Goodwin

Northern District of California Kicks Shareholder Derivative Suit Against Alphabet, Inc. for Failing to Allege Demand Futility

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Northern District of California Kicks Shareholder Derivative Suit Against Alphabet, Inc. For Failing to Allege Demand Futility; Rare Securities “Holder’s Claim” Trial Results in Jury Verdict for Defendants; Delaware Court of...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

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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

Skadden, Arps, Slate, Meagher & Flom LLP

In Affirming Dismissal of Securities Fraud Suit, Ninth Circuit Highlights How Stock Price Recovery Can Prevent Pleading of Loss...

On January 26, 2021, the Ninth U.S. Circuit Court of Appeals affirmed the dismissal of a putative securities fraud class action, holding that: (i) the plaintiffs could not plead loss causation for an alleged misstatement...more

A&O Shearman

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

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On March 12, 2020, Judge Naomi Reice Buchwald of the United States District Court for the Southern District of New York dismissed a putative class action asserting claims under Section 10(b) of the Securities Exchange Act of...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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Second Circuit Affirms Dismissal Of Putative Class Action For Failure To Allege With Particularity Illegal Acts Underlying Alleged...

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On December 10, 2019, the United States Court of Appeals for the Second Circuit affirmed the dismissal of a putative class action asserting claims under Section 10(b) of the Securities Exchange Act of 1934 against a chicken...more

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District Of Massachusetts Dismisses Exchange Act Claims For Failure To Adequately Allege A Material Misleading Statement Or...

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On November 13, 2019, Judge Leo T. Sorokin of the United States District Court for the District of Massachusetts dismissed a putative securities class action involving claims brought under Sections 10(b) and 20(a) of the...more

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Northern District Of Illinois Dismisses Putative Class Action Against In-Flight Internet Provider For Failure To Adequately Allege...

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On October 16, 2019, Judge Jorge L. Alonso of the United States District Court for the Northern District of Illinois Eastern Division dismissed a putative securities class action against an in-flight internet connectivity...more

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

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On September 18, 2019, Judge Edward M. Chen of the United States District Court for the Northern District of California dismissed a putative class action against a digital payment services company and certain of its officers...more

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Northern District Of Illinois Dismisses Putative Class Action Against Pharmaceutical Company For Failure To Adequately Allege...

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On September 18, 2019, Judge Charles P. Kocoras of the United States District Court for the Northern District of Illinois dismissed a putative class action against a pharmaceutical company asserting claims under Section 10(b)...more

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

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On August 28, 2019, Judge Lorna G. Schofield of the United States District Court for the Southern District of New York dismissed a putative class action against the digital services and development company Synacor, Inc. and...more

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Fifth Circuit Affirms Dismissal Of Putative Securities Class Action Against Home Furnishings Retailer For Failure To Adequately...

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On August 19, 2019, the United States Court of Appeals for the Fifth Circuit affirmed the dismissal by a Northern District of Texas court of a putative securities class action asserting a Section 10(b) claim under the...more

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Northern District Of California Dismisses Putative Securities Class Action For The Second Time Against Generic Drug Maker For...

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On August 12, 2019, Judge Haywood S. Gilliam, Jr. of the United States District Court for the Northern District of California dismissed without leave to amend a putative securities class action against a pharmaceutical...more

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District Court Dismisses Putative Class Action, Holding That Company's Optimistic Guidance Fell Within PSLRA Safe Harbor Provision

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On March 15, 2019, Judge Edward M. Chen of the United States District for the Northern District of California dismissed a putative class action asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act...more

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Third Circuit Affirms Dismissal Of Putative Class Action Without Leave To Amend

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On November 14, 2018, the United States Court of Appeals for the Third Circuit affirmed the dismissal of and denial of leave to amend a putative class action complaint against Altisource Asset Management Corporation (“AAMC”)...more

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Southern District Of New York Dismisses Putative Securities Class Action Against Electronics Manufacturer, Finding That The...

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On October 10, 2018, Judge Paul G. Gardephe of the United States District Court for the Southern District of New York issued a memorandum opinion and order setting forth the reasoning for his September 30, 2018, dismissal of...more

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Sixth Circuit Reverses Dismissal Of Putative Securities Class Action Against Pharmaceutical Company, Finding That Statements About...

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On September 27, 2018, the United States Court of Appeals for the Sixth Circuit reversed the dismissal of a putative securities class action against pharmaceutical company Esperion Therapeutics, Inc. (the “Company”) and its...more

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Northern District Of California Dismisses Securities Class Action Against Electric Car Manufacturer, Finding Production...

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On August 24, 2018, Judge Charles Breyer of the United States District Court for the Northern District of California dismissed with leave to amend a putative class action against an electric car manufacturer (the “Company”),...more

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New Jersey District Court Dismisses Putative Securities Class Action Alleging Inappropriate Disclosures Regarding Sources Of Drug...

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On August 21, 2018, Judge Kevin McNulty of the United States District Court for the District of New Jersey dismissed a putative class action against Galena Biopharma Inc. and several of its officers and employees that alleged...more

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Seventh Circuit Affirms Dismissal With Prejudice Of Putative Class Action Alleging Misleading Statements Concerning Accounting...

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On July 12, 2018, the United States Court of Appeals for the Seventh Circuit affirmed the dismissal of a putative class action brought against Kohl’s Corporation and certain of its executives asserting claims pursuant to...more

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