Securities Exchange Act, Loss Causation

Ninth Circuit Affirms Dismissal Of Putative Securities Class Action Against Information Services Company For Failure To Adequately...

A&O Shearman on 5/7/2024

On April 19, 2024, the United States Court of Appeals for the Ninth Circuit affirmed the dismissal of a consolidated putative securities class action alleging violations of Section 10(b) of the Securities Exchange Act of 1934...more

Second Circuit Affirms District Court’s Summary Judgment Dismissal Of Securities Fraud Class Action Against Pharmaceutical Company

A&O Shearman on 4/23/2024

On April 15, 2024, the United States Court of Appeals for the Second Circuit affirmed in a non-precedential summary order the summary judgment dismissal of securities fraud claims against a pharmaceutical company (the...more

Northern District Of California Dismisses Putative Class Action With Prejudice For Failure To Adequately Allege Loss Causation And...

A&O Shearman on 4/17/2024

On April 9, 2024, Judge Beth Labson Freeman of the United States District Court for the Northern District of California dismissed with prejudice a putative class action asserting claims under the Securities Exchange Act of...more

Southern District Of New York Declines To Dismiss Putative Class Action Against Financial Institution Regarding Alleged...

A&O Shearman on 3/29/2024

On February 23, 2024, Judge Katherine Polk Failla of the United States District Court for the Southern District of New York largely denied a motion to dismiss a putative class action asserting claims under the Securities...more

Eastern District Of Pennsylvania Dismisses Purported Securities Fraud Class Action Against IT Services Company For Failure To...

A&O Shearman on 2/15/2024

On February 1, 2024, Judge Gerald J. Pappert of the United States District Court for the Eastern District of Pennsylvania granted a motion to dismiss a putative securities class action against an IT solutions company that...more

Northern District Of California Pares Claims In Putative Class Action Regarding Purchase Of Social Media Platform

A&O Shearman on 12/19/2023

On December 11, 2023, Judge Charles Breyer of the United States District Court for the Northern District of California narrowed a putative class action asserting claims under the Securities Exchange Act of 1934 against the...more

Southern District Of New York Dismisses Proposed Securities Class Action Complaint Against Drug Manufacturer For Failure To Plead...

A&O Shearman on 10/10/2023

On September 25, 2023, Judge Lorna Schofield of the United States District Court for the Southern District of New York granted a motion to dismiss a proposed class action against a biopharmaceutical company (the “Company”)...more

Eleventh Circuit Reiterates Loss Causation not a Given at Pleading Stage

Cooley LLP on 7/31/2023

Securities class action plaintiffs and defendants often disagree about the degree of difficulty to plead loss causation at the motion to dismiss phase. The US Court of Appeals for the Eleventh Circuit recently shed some light...more

Southern District Grants In Part, Denies In Part Chinese Internet Company’s Motion To Dismiss In Investor Class Action

A&O Shearman on 4/3/2023

On March 21, 2023, Judge Paul A. Engelmayer 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 against a Chinese internet company...more

Western District Of Washington Largely Declines To Dismiss Putative Class Action Against Online Real Estate Listing Company

A&O Shearman on 12/16/2022

On December 7, 2022, the United States District Court for the Western District of Washington largely denied a motion to dismiss a putative class action asserting claims under the Securities Exchange Act of 1934 against an...more

Central District Of California Dismisses With Prejudice Suit Against Children’s Cartoon Company And Finds That The Complaint...

A&O Shearman on 7/28/2022

On July 15, 2022, the United States District Court for the Central District of California granted a motion to dismiss a putative class action against a children’s cartoon company (the “Company”) and certain of its officers...more

Northern District Of California Grants Motion To Dismiss Securities And Exchange Act Claims Against Mobile Gaming Technology...

A&O Shearman on 7/12/2022

On July 5, 2022, Chief Judge Richard Seeborg of the Northern District of California granted motions to dismiss a putative securities class action asserting claims under Section 10(b) of the Securities Exchange Act of 1934...more

Northern District Of California Dismisses Without Prejudice Putative Class Action Against Synthetic Biology Company For Failure To...

A&O Shearman on 6/7/2022

On May 31, 2022, Judge Beth Labson Freeman of the Northern District of California dismissed without prejudice a putative class action asserting claims under the Securities Exchange Act against a synthetic biology company and...more

Ninth Circuit Affirms Dismissal Of Complaint Against Pharmaceutical Company For Failure To Allege Falsity And Loss Causation

A&O Shearman on 5/25/2022

On May 19, 2022, the United States Court of Appeals for the Ninth Circuit affirmed a district court’s dismissal of a putative class action against a pharmaceutical company (the “Company”) asserting claims under Section 10(b)...more

Southern District Of New York Grants Motion To Dismiss Exchange Act Claims Against Pharmaceutical Company For Alleged Omissions...

A&O Shearman on 4/7/2022

On March 21, 2022, Judge Lewis J. Liman of the Southern District of New York granted a motion to dismiss a claim under Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 thereunder, as...more

Southern District Of New York Dismisses Putative Class Action Against Global Commercial Electronic Vehicle Company For Failure To...

A&O Shearman on 3/25/2022

On March 15, 2022, Judge George B. Daniels of the Southern District of New York dismissed a putative class action against a global company that focuses on facilitating the adoption of commercial electronic vehicles (“EV”)...more

Southern District Of Ohio Declines To Dismiss Putative Class Action Against Energy Company Regarding Alleged Bribery Scheme

A&O Shearman on 3/18/2022

On March 7, 2022, Judge Algenon L. Marbley of the Southern District of Ohio largely denied a motion to dismiss a putative class action asserting claims under the Securities Exchange Act of 1934 (“Exchange Act”) and the...more

Inside the Courts – An Update From Skadden Securities Litigators - March 2022

Skadden, Arps, Slate, Meagher & Flom LLP on 3/2/2022

Class Certification - Central District of California Denies Class Certification in Securities Fraud Action Concerning Company’s Purchase of ADRs - Stoyas v. Toshiba Corp., No. 2:15-cv-04194 (C.D. Cal. Jan. 7, 2022) - ...more

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

A&O Shearman on 1/12/2022

On December 20, 2021, the United States District Court for the Northern District of California dismissed a putative class action against a social media company and certain of its executives under the Securities Exchange Act. ...more

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

Skadden, Arps, Slate, Meagher & Flom LLP on 2/22/2021

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

2020 Securities Litigation Year in Review

Jones Day on 2/8/2021

2020 was another active year for securities litigation in the United States. Federal securities class actions continued to be filed at record levels notwithstanding the COVID-19 pandemic. In fact, a number of those newly...more

Utah District Court Dismisses Putative Securities Class Action Against Biotechnology Firm For Failure To Allege Falsity And Loss...

A&O Shearman on 12/1/2020

On November 22, 2020, Judge Howard C. Nielson, Jr. of the United States District Court for the District of Utah dismissed with prejudice a putative class action asserting claims under the Securities Exchange Act of 1934...more

Northern District Of Illinois Denies Motion To Dismiss Putative Securities Class Action Against Pharmaceutical Company Relating To...

A&O Shearman on 9/9/2020

On September 1, 2020, Judge Charles R. Norgle of the United States District Court for the Northern District of Illinois denied a motion to dismiss a putative class action asserting claims under the Securities Exchange Act of...more

Second Circuit Affirms In Part Dismissal Of Securities Claims Against Cancer Drug Developer, Holding Certain Alleged Misstatements...

A&O Shearman on 7/21/2020

On July 13, 2020, the Second Circuit affirmed in part and vacated in part the dismissal of Exchange Act claims against a pharmaceutical company (the “Company”) and certain individual defendants in connection with alleged...more

Northern District Of California Grants In Part Motion To Dismiss Securities Fraud Claims Against Multinational Technology Company,...

A&O Shearman on 6/10/2020

On June 2, 2020, Judge Yvonne Gonzalez Rogers of the Northern District of California granted in part a motion to dismiss a putative securities class action asserting claims under Sections 10(b) and 20(a) of the Securities...more

Securities Exchange Act › Loss Causation

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