Securities Exchange Act, Scienter

Northern District Of California Dismisses Putative Securities Class Action Against Grocery Delivery Company For Failure To...

A&O Shearman on 5/20/2025

On May 9, 2025, Judge Edward J. Davila of the Northern District of California granted a motion to dismiss a purported securities class action against a grocery delivery company (the “Company”), certain of its officers and...more

Eastern District Of Wisconsin Dismisses Class Action Against Energy Products Company For Failure To Allege Falsity, Scienter, And...

A&O Shearman on 3/13/2025

On February 7, 2025, Judge Brett H. Ludwig of the United States District Court for the Eastern District of Wisconsin dismissed a putative class action alleging that an energy product sales company (the “Company”) and its...more

Eastern District Of New York Dismisses Securities Class Action Against Exercise Equipment Company For Failure To Plead Falsity and...

A&O Shearman on 3/12/2025

On February 14, 2025, Judge Margo Brodie of the United States District Court for the Eastern District of New York granted a motion to dismiss a putative class action asserting claims under Sections 10(b) and 20(a) of the...more

The Ninth Circuit Affirms Dismissal Of Claims Against Hearing Aid Manufacturer Regarding Statements About Insurance Coverage

A&O Shearman on 1/31/2025

On January 10, 2025, the United States Court of Appeals for the Ninth Circuit Court affirmed the dismissal of a putative securities class action brought by a pension plan alleging that a hearing aid manufacturer (the...more

Eastern District Of Wisconsin Dismisses Putative Securities Class Action Against Department Store Chain For Failing To Plead...

A&O Shearman on 10/16/2024

On September 30, 2024, Judge Lynn Adelman of the United States District Court for the Eastern District of Wisconsin granted a motion to dismiss a putative securities class action asserting claims under Sections 10(b), 14(a),...more

District Of New Jersey Dismisses Putative Securities Class Action Against Pool Equipment Company

A&O Shearman on 10/16/2024

On October 2, 2024, Judge William J. Martini of the United States District Court for the District of New Jersey dismissed a putative class action against a pool equipment company (the “Company”), its private equity majority...more

Can AI Act With Scienter?

Allen Matkins on 10/1/2024

The legal implications of artificial intelligence, or AI, are vast. Many, no doubt, have read stories about lawyers being embarrassed by briefs drafted with AI. What if AI is used to draft disclosure documents that are...more

Northern District Of California Grants Motion To Dismiss Putative Class Action Against Financial Technology Company For Failure To...

A&O Shearman on 9/27/2024

On August 26, 2024, Judge Araceli Martínez-Olguin of the United States District Court for the Northern District of California granted a motion to dismiss a putative securities class action asserting claims under Sections...more

Northern District Of California Grants Motion To Dismiss Putative Securities Fraud Class Action Against Technology Company For...

A&O Shearman on 9/27/2024

On September 3, 2024, Judge Rita F. Lin of the United States District Court for the Northern District of California granted a motion to dismiss a putative securities fraud class action against a technology and digital...more

Central District Of California Grants Motion To Dismiss Putative Securities Class Action Against Plant-Based Meat Substitute...

A&O Shearman on 8/20/2024

On August 9, 2024, Judge Michael W. Fitzgerald of the United States District Court for the Central District of California granted a motion to dismiss a putative securities class action against a producer of plant-based meat...more

Cybersecurity After SolarWinds: Practical Guidance for CISOs Under the New Rules

Akin Gump Strauss Hauer & Feld LLP on 8/19/2024

Judge Engelmayer’s 107-page dismissal of most of the U.S. Securities and Exchange Commission (SEC)’s claims against SolarWinds provides valuable guidance, and some comfort, for public companies and Chief Information Security...more

Southern District Of New York Grants Motion To Dismiss Putative Securities Class Action Against Cannabis Company For Failure To...

A&O Shearman on 8/2/2024

On July 17, 2024, Judge Paul A. Engelmayer of the U.S. District Court for the Southern District of New York granted a motion to dismiss a putative securities class action against a cannabis company and three of its officers....more

Middle District Of Florida Grants Motion To Dismiss Putative Securities Class Action Against Autonomous Vehicle Technology Company...

A&O Shearman on 6/11/2024

On May 31, 2024, Judge Julie S. Sneed of the United States District Court for the Middle District of Florida granted a motion to dismiss a putative securities class action against an autonomous vehicle technology company (the...more

Western District Of Washington Dismisses Securities Fraud Claims Against Manufacturer Of Pop Culture Collectibles For Lack Of...

A&O Shearman on 6/4/2024

On May 16, 2024, Judge James L. Robart of the United States District Court for the Western District of Washington granted a motion to dismiss a putative securities class action against a manufacturer of pop culture...more

Northern District Of California Dismisses With Prejudice Putative Class Action Against Pharmaceutical Company

A&O Shearman on 5/14/2024

On May 7, 2024, Judge Beth Labson Freeman of the United States District Court for the Northern District of California dismissed with prejudice a putative shareholders’ class action against a pharmaceutical company (“Company”)...more

Southern District Of California Dismisses Putative Class Action Against Medical Device Company For Failure To Adequately Allege...

A&O Shearman on 5/9/2024

On April 30, 2024, Judge Marilyn L. Huff of the United States District Court for the Southern District of California dismissed with leave to amend a putative class action asserting claims under the Securities Exchange Act of...more

Southern District Of New York Largely Denies Motion To Dismiss Putative Class Action Against Dental Product Manufacturer

A&O Shearman on 5/8/2024

On May 1, 2024, Judge Arun Subramanian 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 Exchange Act of...more

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

Fifth Circuit Reverses District Court’s Dismissal Of Putative Securities Fraud Class Action Against Amusement Park Company For...

A&O Shearman on 4/23/2024

On April 18, 2024, the United States Court of Appeals for the Fifth Circuit reversed the dismissal of and reinstated a putative shareholders’ class action against an amusement park company (the Company”) and certain of its...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 Grants Motion To Dismiss Putative Class Action Against Biotech Company And Executives

A&O Shearman on 4/10/2024

On March 30, 2024, Judge Araceli Martínez-Olguín of the Northern District of California granted a motion to dismiss a putative class action against a biotechnology company that develops and sells skin treatment drugs and...more

Northern District Of Georgia Court Dismisses With Prejudice Putative Securities Class Action Against Optical Retailer For Failure...

A&O Shearman on 4/10/2024

On March 30, 2024, Judge Victoria Marie Calvert of the United States District Court for the Northern District of Georgia granted a motion to dismiss a putative securities class action against an optical retail company and...more

Ninth Circuit Affirms Dismissal Of Putative Securities Class Action Against Biopharmaceutical Company Over Statements It Had...

A&O Shearman on 4/3/2024

On March 25, 2024, the United States Court of Appeals for the Ninth Circuit unanimously affirmed a trial court decision dismissing a putative securities class action brought by investors against a biopharmaceutical company...more

Northern District Of California Grants Motion To Dismiss Putative Class Action Against Biotechnology Instrument Company

A&O Shearman on 4/1/2024

On February 20, 2024, Judge Haywood S. Gilliam, Jr. of the United States District Court for the Northern District of California granted with leave to amend a motion to dismiss a putative securities class action against a...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

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