In case there was any doubt, insider trading enforcement—including DOJ criminal and SEC civil charges—remains a priority to kick off the new year. Last week, the U.S. Attorney’s Office for the District of Massachusetts...more
On January 12, 2026, Judge Robert Pitman of the United States District Court for the Western District of Texas granted a motion to dismiss a putative securities class action against a cybersecurity company (the “Company”) and...more
On December 12, 2025, Judge Sherilyn Peace Garnett of the United States District Court for the Central District of California granted in part and denied in part a motion to dismiss a proposed investor class action against a...more
On December 18, 2025, Judge Sherilyn Peace Garnett of the United States District Court for the Central District of California dismissed a putative securities class action against a multinational “fast-casual” restaurant chain...more
This Blog has written about Ponzi schemes on numerous occasions. A Ponzi scheme is a type of investment fraud where returns to earlier investors are paid using investment capital from new or existing investors, rather than...more
On December 10, 2025, Judge Noël Wise of the United States District Court for the Northern District of California granted a motion to dismiss a putative securities fraud class action asserting claims against a payment...more
On November 26, 2025, the United States Court of Appeals for the Eleventh Circuit reinstated a putative class action asserting claims under the Securities Exchange Act of 1934 against an electric utility company, its parent...more
On November 20, 2025, Judge Edward J. Davila of the United States District Court for the Northern District of California dismissed with prejudice a putative securities class action against a social media platform (the...more
To plead securities fraud, a plaintiff must allege that the defendant made a false statement or omitted a material fact, did so with scienter, and that the plaintiff relied on that misrepresentation and suffered injury....more
On November 19, 2025, Judge John H. Chun of the United States District Court for the Western District of Washington pared the allegations in a putative class action asserting claims under the Securities Exchange Act of 1934...more
The Middle District of Tennessee allowed significant portions of a securities class action to proceed against Shoals Technology Group, Inc. (Shoals) and certain of its executives based on allegations that they made false and...more
Aerospace startups often begin with a dream to provide cheaper, better, or faster solutions for aviation and space flight, and the ambition to make that dream a reality. Although optimism fuels innovation, as aerospace...more
On November 7, 2025, Judge John G. Koeltl of the United States District Court for the Southern District of New York denied a motion for leave to amend a putative securities class action complaint asserting claims against a...more
On October 6, 2025, the U.S. Supreme Court denied a petition for certiorari in BDO USA,LLP v. New England Carpenters Guaranteed Annuity and Pension Funds, No. 24-1151, a closely watched case involving securities fraud claims...more
On October 28, 2025, Judge Tiffany M. Cartwright of the United States District Court for the Western District of Washington largely denied motions to dismiss a putative class action asserting claims under the Securities...more
In this week’s D&O Notebook, my colleague Walker Newell takes a look at a little-discussed provision of the federal securities laws that caps shareholders’ damages if a company’s stock price rebounds after an initial drop....more
Additionally, on September 26, 2025, SEC Chair Paul S. Atkins announced that the Commission will once again simultaneously evaluate settlement offers in SEC enforcement actions and requests for SEC waivers from automatic...more
On September 30, 2025, Judge Steven D. Grimberg of the United States District Court for the Northern District of Georgia substantially denied a motion to dismiss a putative securities class action arising out of the spinoff...more
On October 2, 2025, Judge Haywood S. Gilliam Jr. of the United States District Court for the Northern District of California granted a motion to dismiss a putative securities class action against a cybersecurity company (the...more
The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more
On August 20, 2025, the US Court of Appeals for the Ninth Circuit affirmed the district court’s dismissal of a securities fraud action in Sneed v. Talphera. With this published decision, Cooley secured a complete victory on...more
Insider trading cases may have become harder to prosecute. On July 31, 2025, the Second Circuit released its opinion in United States v. Chastain, an insider trading case in which the defendant had been convicted by a jury...more
On September 29, 2025, the United States Court of Appeals for the Second Circuit vacated a district court order dismissing a putative securities class action against a natural food and personal care company (the “Company”)...more
On September 30, 2025, Judge Edgardo Ramos of the United States District Court for the Southern District of New York granted a motion to dismiss a putative securities class action against a fashion e-commerce company (the...more
On September 25, 2025, the Securities and Exchange Commission (“SEC”) announced (here) that it charged the co-founders of Retail Ecommerce Ventures LLC (“REV”), and REV’s Chief Operating Officer (collectively, “Defendants”),...more