Shareholder Litigation, Appeals, Securities and Exchange Commission (SEC)

Second Circuit Clarifies Nature of Actionable Opinions Under Securities Laws

Proskauer - Corporate Defense and Disputes on 8/23/2023

The U.S. Court of Appeals for the Second Circuit held that a statement of opinion that reflects some subjective judgment can nevertheless be actionable under the securities laws if it misleads investors into thinking that the...more

Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit

Goodwin on 3/9/2022

IN THIS ISSUE - Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit; Federal Court of Appeals Dismisses Leading Fannie Mae and Freddie Mac Shareholder Lawsuits; NY Seeks Blockchain...more

Court of Appeals Warns Against Complacency in the PSLRA’s Safe Harbor

Pillsbury Winthrop Shaw Pittman LLP on 7/29/2015

SEC Rule 10b-5 makes it unlawful to misstate a material fact (or omit to say something if the omission would render misleading what you do say) in connection with the purchase or sale of a security. The Private Securities...more

Trinity Wall Street Responds in Appeal of Exclusion of Shareholder Proposal

Stinson - Corporate & Securities Law Blog on 2/5/2015

Currently before the Third Circuit is Trinity Wall Street v. Wal-Mart Stores, Inc. The case involves whether Wal-Mart can exclude a shareholder proposal under the “ordinary business exception” to Rule 14a-8. Trinity...more

Amicus Briefs Pour in for Wal-Mart Shareholder Proposal Case

Stinson - Corporate & Securities Law Blog on 1/26/2015

Amicus briefs are pouring in in favor of Wal-Mart in its appeal to the Third Circuit. Wal-Mart appealed the United States District of Delaware’s decision that denied Wal-Mart the right to exclude a shareholder proposal...more

Wal-Mart Appeals Denial of Exclusion of Shareholder Proposal

Stinson - Corporate & Securities Law Blog on 1/8/2015

Wal-Mart has appealed the United States District of Delaware’s decision which denied Wal-Mart the right to exclude a shareholder proposal submitted by Trinity Wall Street. The District Court held that the SEC was incorrect...more