News & Analysis as of September 22, 2024

Securities Exchange Act › Failure To State A Claim

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The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +

The Justice Insiders Podcast: Meet the Securities and Exchange (and Human Resources) Commission

This Week At The Ninth: Securities Fraud

Morrison & Foerster LLP - Left Coast Appeals on 1/30/2023

This week, the Court addresses the pleading standard for a claim of false or misleading statements in connection with a tender offer under Section 14(e) of the Securities Exchange Act of 1934. The Court holds that...more

SEC Obtains Consent Judgments Against Biotechnology Company and CEO for False COVID-19 Product Claims

Goodwin on 5/4/2022

On April 19, 2022, Judge James R. Knepp II of the U.S. District Court for the Northern District of Ohio approved consent judgments against biotechnology firm Rising Biosciences, Inc. and its CEO Arthur Hall for violations of...more

District Of New Jersey Upholds Securities Fraud Action Against Major Student Loan Servicer Based Upon Alleged Forbearance Scheme...

A&O Shearman on 1/7/2020

On December 30, 2019, Judge Robert B. Kugler of the United States District Court for the District of New Jersey denied a motion to dismiss a putative class action raised under Sections 10(b) and 20(a) of the Securities...more

District Of Maryland Dismisses Post-Merger Securities Class Action, Finding Omission Of Public Information Relating To Financial...

A&O Shearman on 12/19/2019

On December 4, 2019, Judge Ellen L. Hollander of the United States District Court for the District of Maryland dismissed with prejudice a stockholder class action suit against Gramercy Property Trust (“Gramercy” or the...more

Northern District Of Texas Dismisses With Prejudice Accounting-Related Claims For Failure To Adequately Allege Scienter

A&O Shearman on 9/18/2018

On September 11, 2018, Judge Barbara M. G. Lynn of the United States District Court for the Northern District of Texas dismissed with prejudice a third amended putative class action complaint against Global Power Equipment...more

Northern District Of California Dismisses Putative Securities Fraud Class Action Against SolarCity Corp. For Failure To Adequately...

A&O Shearman on 8/22/2017

On August 11, 2017, Judge Lucy H. Koh of the United States District Court for the Northern District of California dismissed a putative securities class action brought against SolarCity Corp. (“SolarCity”) and four of its...more

U.S. Supreme Court Agrees To Hear Securities Fraud Omissions Case

Dorsey & Whitney LLP on 3/30/2017

The U.S. Supreme Court will resolve a critical question governing the scope of liability in securities fraud cases which has split the circuit courts to date. The case, Leidos Inc. v. Indiana Public Retirement System, No....more

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