Credit: jiris/Adobe Stock Litigator of the Week Runners-Up and Shout Outs
Eugene Scalia, Helgi Walker and their team at Gibson, Dunn & Crutcher won a ruling striking down new rules from the U.S. Securities and Exchange Commission aimed at private funds.
June 07, 2024 at 07:25 AM
6 minute read
First up this week are Eugene Scalia, Helgi Walker and their team at Gibson, Dunn & Crutcher who won a ruling striking down new rules from the U.S. Securities and Exchange Commission requiring private funds to issue quarterly performance and fee reports, and barring them from giving some customers preferential treatment in redemptions. The Fifth Circuit this week found that sections 206(4) and 211(h) of the Advisers Act, which the SEC relied on to issue the rules, didn't actually give the agency that authority. The decision hands a major win to the firm's clients—a coalition of trade associations representing hedge funds, venture capital funds, syndicated loan funds, and private equity funds. The Gibson Dunn team also included associates Brian Richman, Max Schulman, Robert Batista and Stephen Hammer.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
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Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
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Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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