In an unexpected turn of events, the U.S. Supreme Court recently dismissed without explanation two securities fraud class action cases out of the U.S. Court of Appeals for the 9th Circuit—Facebook, Inc. v. Amalgamated Bank...more
12/31/2024
/ Appeals ,
Class Action ,
Corporate Counsel ,
Dismissals ,
Facebook ,
Form 10-K ,
Investors ,
NVIDIA ,
Pleading Standards ,
PSLRA ,
SCOTUS ,
Securities Fraud
On June 17, 2024, the U.S. Supreme Court granted certiorari in Nvidia Corp. v. E. Ohman J:or Fonder AB [No. 23-970]. The Supreme Court’s decision is expected to address, for the first time in over a decade, the exacting...more
Key Points -
The 9th Circuit, disagreeing again with the 2nd, 3rd, 5th, 6th, and 11th Circuits, reaffirmed that claims under Section 14(e) of the Exchange Act do not require a showing of scienter.
In the 9th...more
• The U.S. Supreme Court held that the tolling provisions established in American Pipe & Construction Co. v. Utah, 414 U.S. 538 (1974) apply to only individual claims, not to successive class actions.
• The Court’s...more
6/13/2018
/ Appeals ,
China Agritech Inc v Resh ,
Class Action ,
Class Certification ,
Class Members ,
Equitable Tolling ,
FRCP 23 ,
Putative Class Actions ,
Reversal ,
SCOTUS ,
Securities Fraud ,
Statute of Limitations ,
Subsequent Litigation
• The U.S. Supreme Court granted a certiorari petition filed by China Agritech from the 9th Circuit’s decision in Resh v. China Agritech, Inc., 857 F.3d 994 (9th Cir. 2017). The Court will clarify whether its landmark ruling...more
12/14/2017
/ American Pipe & Construction Co. v. Utah ,
Class Action ,
Class Certification ,
Class Members ,
Equitable Tolling ,
Petition for Writ of Certiorari ,
Putative Class Actions ,
Reversal ,
SCOTUS ,
Securities Exchange Act ,
Securities Fraud ,
Statute of Limitations
• The U.S. Court of Appeals for the 9th Circuit affirmed the dismissal of a securities fraud claim alleging that Yelp fraudulently inflated its stock price by misleading investors about its practices concerning the business...more
11/29/2017
/ Appeals ,
Class Action ,
Corporate Counsel ,
Dismissals ,
Federal Trade Commission (FTC) ,
Investors ,
Loss Causation ,
Misleading Statements ,
Online Reviews ,
Price Inflation ,
Scienter ,
Securities Fraud ,
Stock Prices ,
Yelp