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National Law Journal

'Perplexing': 6th Circuit Judge Criticizes High Bar for Securities Lawsuits

"Hopefully, a future panel of this Court, or the Supreme Court, can clarify the law along the lines described here, so that the majority's untenable views are not sustained," Judge Eric Clay wrote.
3 minute read

New Jersey Law Journal

Class Action Filed Against AI Pharma-Tech Company Alleging CEO's Termination Led Stock Prices to Plummet

The stock price dropped $1.72 per share at the release of that news to close down 22.9%, at $5.79 per share on Feb. 13.
4 minute read

The Legal Intelligencer

Long-Awaited SEC Final Rules on Climate-Related Disclosures Face Legal Scrutiny

While the status of the final rules remains uncertain, the SEC's 2010 climate guidance continues to apply. Companies should continue to consider providing more robust disclosure on climate-related risks and their impact on the company's business, results of operations and financial condition in response to demands from investors and to comply with rules and guidance set forth by the SEC, states, other regulatory agencies and other advisory bodies.
9 minute read

New York Law Journal

Supreme Court Confirms 'Pure Omissions' Cannot Support Securities Fraud Liability

In a significant decision regarding the scope of the federal securities laws' anti-fraud provisions, the U.S. Supreme Court held that "pure omissions" are inactionable under Section 10(b) of the Securities Exchange Act and its enabling rule, SEC Rule 10b-5.
9 minute read

Delaware Business Court Insider

Trump, Truth Social Attorneys Expect 'Solid' Chance at Shareholder Case Dismissal

Vice Chancellor Morgan Zurn said she'll hear argument April 30 on whether to continue handling the case on an expedited basis.
3 minute read

The Recorder

Ninth Circuit Affirms Dismissal of Securities Claims Against Gaming Platform

The three-judge panel ruled that the shareholders hadn't provided adequate facts to support their claims that Skillz, represented by Latham & Watkins, misled them.
2 minute read

National Law Journal

7th Circuit Lets Shareholder Intervene in Mootness Fees Spat

"It seems to us that, as an investor in Akorn whose shares' value was affected by the merger and the mootness fees, Frank has a claim in common with the main action; how could it be otherwise?" Judge Frank Easterbrook wrote for the court.
5 minute read

The Recorder

Shareholder Suit: Meta, Mark Zuckerberg Accused of Keeping Status Quo Despite Increased Presence of Online Child Sexual Predators

This case was first surfaced by Law.com Radar, ALM's source for immediate alerting on just filed cases in state and federal courts. Law.com Radar now offers state court coverage nationwide. Sign up today and be among the first to know about new suits in your region, practice area or client sector.
3 minute read

National Law Journal

In Win for Securities Industry, Justices Curb Investor Suits Over 'Pure Omissions'

Investors can bring such suits only when such omissions create "misleading half-truths," Justice Sonia Sotomayor wrote for a unanimous court.
4 minute read

National Law Journal

GOP Lawmakers Seek to Block SEC's Climate Disclosure Rule Via Legislation If Not Litigation

"When you hear Democrats accuse Republicans of being 'anti-science,' they are proving our point that this rule is about the left's climate-policy agenda, not simply standardizing disclosures," said House Financial Services Committee Chair Patrick McHenry, R-North Carolina.
4 minute read

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