SCOTUS Grants Certiorari to Decide Whether Automatic Discovery Stay Applies to Securities Act Cases in State Court; Delaware Court of Chancery Dismisses Stockholder Suit Against FedEx for Failure to Make Pre-Litigation...more
7/29/2021
/ Appeals ,
Automatic Stay ,
Board of Directors ,
Breach of Duty ,
Certiorari ,
Class Certification ,
Coronavirus/COVID-19 ,
DE Supreme Court ,
Derivative Suit ,
Discovery ,
Dismissal With Prejudice ,
Federal Rules of Civil Procedure ,
Fiduciary Duty ,
Investors ,
Misleading Statements ,
Misrepresentation ,
Motion to Dismiss ,
Popular ,
Private Securities Litigation Reform Act of 1995 ,
PSLRA ,
Remand ,
Reversal ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Standard of Review ,
State Courts ,
Stock Prices ,
Vacated
Delaware Court of Chancery Awards Attorneys’ Fees After Gilead’s “Glaringly Egregious” Litigation Conduct; S.D.N.Y Grants Plaintiffs’ Partial Summary Judgment in Securities Class Action Against Perrigo; SPAC Investors Launch...more
7/29/2021
/ Acquisitions ,
Attorney's Fees ,
Board of Directors ,
Books & Records ,
Class Action ,
Delaware General Corporation Law ,
Dismissals ,
Failure To Disclose ,
Failure To State A Claim ,
False Statements ,
Information Requests ,
Initial Public Offering (IPO) ,
Investors ,
Misleading Statements ,
Misrepresentation ,
Omissions ,
Partial Summary Judgments ,
Publicly-Traded Companies ,
Putative Class Actions ,
Section 220 Request ,
Securities Act of 1933 ,
Securities Exchange Act of 1934 ,
Securities Litigation ,
Securities Violations ,
Shareholders ,
Short Selling ,
Special Purpose Acquisition Companies (SPACs)
On July 13, 2021, the U.S. Securities and Exchange Commission announced charges against special purpose acquisition corporation Stable Road Acquisition Company, its sponsor SRC-NI, its CEO Brian Kabot, the SPAC’s proposed...more
7/29/2021
/ Acquisitions ,
CEOs ,
Disclosure Requirements ,
Enforcement Actions ,
Mergers ,
Misleading Statements ,
Misrepresentation ,
Omissions ,
Rule 10b-5 ,
Section 17(a) ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Litigation ,
Securities Violations ,
Special Purpose Acquisition Companies (SPACs) ,
Sponsors
Federal Reserve Hints at Government-Backed Cryptocurrency; Third Circuit Affirms Dismissal of Securities Fraud Class Action Against Shutterfly Inc. Regarding Allegedly Misleading Financial Projections; Ninth Circuit Holds...more
6/4/2021
/ Cease and Desist Orders ,
Class Action ,
Corporations Code ,
Cryptocurrency ,
Digital Currency ,
Dismissal With Prejudice ,
Dismissals ,
Federal Reserve ,
Federal Rules of Civil Procedure ,
Investors ,
Judicial Notice ,
Loss Causation ,
Misleading Statements ,
Pleading Standards ,
Private Securities Litigation Reform Act of 1995 ,
Proxy Statements ,
Putative Class Actions ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Securities Litigation ,
Securities Violations ,
Shareholders ,
Shutterfly ,
Uber
A Win for Deal Certainty, Delaware Court of Chancery Orders Closing of Cake Supplier Acquisition; Under Armour to Pay $9M to Settle SEC Charges Involving Disclosure Failures; First Circuit Upholds Decision Applying Federal...more
5/19/2021
/ Acquisitions ,
Board of Directors ,
Breach of Duty ,
Business Judgment Rule ,
Buyers ,
Buyouts ,
Cease and Desist ,
Civil Monetary Penalty ,
Controlling Stockholders ,
Debt Financing ,
Dismissals ,
Failure To Disclose ,
Fiduciary Duty ,
Foreign Investment ,
Going-Private Transactions ,
Investors ,
Minority Shareholders ,
Motion to Dismiss ,
Partial Summary Judgments ,
Publicly-Traded Companies ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
Securities Regulation ,
Securities Violations ,
Sellers ,
Settlement Agreements ,
Solicitation
The Delaware Court of Chancery issued a decision on Wednesday in Sciabacucchi v. Salzberg, et al., C.A. No. 2017-0931-JTL (Del. Ch. Dec. 19, 2018) declaring that federal forum selection provisions purporting to require claims...more