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Supreme Court of the United States › PSLRA

The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary... more +
The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary with only a limited number of cases granted review each term.  The Court is comprised of one chief justice and eight associate justices, who are nominated by the President and confirmed by the Senate to hold lifetime positions. less -
Dechert LLP

Securities and Derivative Litigation: Quarterly Update - September 2024

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Highlight the Third Circuit’s adoption of the de novo standard of review in evaluating appeals of derivative litigation demand-futility decisions; Explore the Sixth Circuit’s recognition of the applicability of the...more

Paul Hastings LLP

Public Company Watch: July 2024

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In the July edition of our Public Company Watch, we cover key issues impacting public companies, including the new Compliance and Disclosure Interpretations related to the cybersecurity disclosure rules and the recent SEC...more

Akin Gump Strauss Hauer & Feld LLP

U.S. Supreme Court to Clarify Securities Fraud Pleading Requirements for Falsity and Scienter During 2024–2025 Term

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On June 17, 2024, the U.S. Supreme Court granted certiorari in Nvidia Corp. v. E. Ohman J:or Fonder AB [No. 23-970]. The Supreme Court’s decision is expected to address, for the first time in over a decade, the exacting...more

Vinson & Elkins LLP

SCOTUS To Focus on the Securities Fraud Pleading Standard in Two Cases Next Term

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In a pair of orders issued this month, the U.S. Supreme Court signaled plans to provide further guidance in its upcoming Fall term concerning application of the heightened standard for pleading securities fraud claims...more

Mintz

SCOTUS Grants Certiorari to Hear NVIDIA Fraud Appeal on PSLRA Pleading Standard

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Last week, the United States Supreme Court granted certiorari in NVIDIA Corp. v. E. Ohman J:Or Fonder AB., Case No. 23-970, to address two fundamental questions about how federal securities fraud cases must be pled to survive...more

Morgan Lewis

US Supreme Court Agrees to Review Securities Fraud Pleading Standards

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The US Supreme Court granted certiorari in NVIDIA Corp. v. E. Ohman J:or Fonder AB on June 17, 2024, agreeing to consider the standards for pleading under the federal securities laws that statements are false and made with...more

BCLP

U.S. Supreme Court to Hear Appeal Concerning Securities Fraud Pleading Standard

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The U.S. Supreme Court recently agreed to hear an appeal of a Ninth Circuit decision that could have a significant impact on future securities fraud claims nationwide. At issue is how heavy a burden plaintiffs will bear in...more

Troutman Pepper

US Supreme Court to Hear Nvidia Crypto Mining Case on Securities Pleading Standard

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On June 17, the U.S. Supreme Court granted certiorari in Nvidia Corp. v. E. Ohman J:or Fonder AB, agreeing to hear Nvidia’s appeal of a Ninth Circuit ruling that revived shareholders’ fraud claims regarding Nvidia’s...more

Dorsey & Whitney LLP

The Supreme Court Update - June 17, 2024

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Today, the Supreme Court of the United States granted certiorari in four cases: NVIDIA Corp. v. E. Ohman J:or Fonder AB, No. 23-970: This securities case addresses the Private Securities Litigation Reform Act’s (“PSLRA”)...more

A&O Shearman

United States Supreme Court Dismisses Appeal In Case Concerning Whether Private Securities Litigation Reform Act’s Automatic Stay...

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On February 21, 2023, the United States Supreme Court formally dismissed the appeal of a case in which a settlement had been announced after certiorari was granted to review a decision by a California state court allowing...more

Proskauer - Corporate Defense and Disputes

Ninth Circuit Applies Lower Standard for Pleading Scienter Under § 14(e) of Securities Exchange Act Even as to Opinions

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The U.S. Court of Appeals for the Ninth Circuit ruled last week that the securities-law requirement to plead a “strong inference” of scienter does not apply to claims under § 14(e) of the Securities Exchange Act even where...more

Sheppard Mullin Richter & Hampton LLP

Second Circuit Declines to Allow SEC Rule 10b-5 Claim for “Scheme Liability” to Proceed Where the Alleged Misconduct Amounted Only...

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In SEC v. Rio Tinto PLC, No. 21-2042, 2022 U.S. App. LEXIS 19577 (2d Cir. July 15, 2022) (Jacobs, J.), the United States Court of Appeals for the Second Circuit declined to impose “scheme liability” under subsections (a) and...more

Proskauer - Corporate Defense and Disputes

Supreme Court to Decide Whether Discovery Stays Apply to State-Court Securities Lawsuits This Fall

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One of the most significant differences between bringing a securities lawsuit in state versus federal court is the application of the mandatory discovery stay set forth in the Private Securities Litigation Reform Act (the...more

Seyfarth Shaw LLP

In the Wake of the Pandora’s Box Opened by the Supreme Court’s Cyan Decision, Court to Address Discovery Stay Question in State...

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On July 2, 2021, the US Supreme Court granted the Petition for a Writ of Certiorari filed in Pivotal Software, to address one of the many questions stemming from the Court’s decision in Cyan, which permitted state courts to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Securities Class Action Filings Continue Record Pace

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Several securities litigation trends over recent years show no signs of abating in 2020. Federal securities class action filings seem likely to remain at elevated levels. Last year, for the third consecutive year, more than...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - March 2019

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This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between December 2018 and February 2019....more

A&O Shearman

U.S. Chamber Of Commerce's Institute Of Legal Reform Publishes Report On "Broken Securities Class Action System" And Proposes...

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On February 25, 2019, the U.S. Chamber of Commerce’s Institute of Legal Reform (the “ILR”) published a report entitled “Containing the Contagion: Proposals to Reform the Broken Securities Class Action System” (the “Report”)....more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2019 Insights: Securities Class Action Filings Show No Signs of Abating

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As anticipated, securities class action filings remained high in 2018, with more than 400 filings in federal court, and the number is expected to remain high in 2019. While the total number is slightly less than in 2017, it...more

Dechert LLP

Supreme Court Limits American Pipe Tolling for Successive Class Actions

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In China Agritech, Inc. v. Resh, the Supreme Court of the United States held that the filing of a class action complaint does not toll a statute of limitations period for later-filed class actions raising the same claims. The...more

Butler Snow LLP

Skeptical of Elephants in Mouseholes and Monster Arguments, the Supreme Court Holds Plaintiffs Can Still File 1933 Act Securities...

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On March 20, 2018, the United States Supreme Court released its unanimous decision in Cyan, Inc. v. Beaver County Employees Retirement Fund, 138 S.Ct. 1061 (2018). In Cyan, the Court considered whether plaintiffs can file...more

Moore & Van Allen PLLC

The Doors of State Courthouses Remain Open to Class Action Plaintiffs with Federal Securities Act of 1933 Claims Related to...

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In 2017, federal securities class actions were filed at a rapid clip, averaging more than one per day – a level not seen in nearly 20 years according to survey data. It was the third year of growth and a 44% increase over...more

Bass, Berry & Sims PLC

IPOs and Registered Offerings Beware – Supreme Court Decision Risks Increased Lawsuits in State Courts

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On March 20, 2018, a unanimous United States Supreme Court, in Cyan, Inc. v. Beaver Cty. Employees Ret. Fund, No. 15-1439, 2018 WL 1384564, answered two questions concerning investors' ability to pursue alleged violations of...more

Fenwick & West LLP

Supreme Court Rules That Securities Act Class Actions May Proceed in State Court

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The U.S. Supreme Court has ruled that class action plaintiffs can bring claims under the Securities Act of 1933 in either state or federal court. ...more

Kramer Levin Naftalis & Frankel LLP

Supreme Court in Cyan Upholds State Court Securities Act Class Actions

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In Cyan, Inc. v. Beaver County Employees Retirement Fund, No. 15-1439, decided on March 20, 2018, the Supreme Court unanimously held that class actions based solely on the Securities Act of 1933 (33 Act) may be brought in...more

Troutman Pepper

Supreme Court's Cyan Decision Means Open Season for Investor Class Actions After IPOs

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The U.S. Supreme Court issued a unanimous decision on March 20 holding that investors are free to file securities class action lawsuits challenging the veracity of stock registration statements under Section 11 of the...more

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