Publicly-Traded Companies, Securities Exchange Act, Scienter

Northern District Of California Dismisses Putative Securities Class Action Against Grocery Delivery Company For Failure To...

A&O Shearman on 5/20/2025

On May 9, 2025, Judge Edward J. Davila of the Northern District of California granted a motion to dismiss a purported securities class action against a grocery delivery company (the “Company”), certain of its officers and...more

The SEC’s Efforts Against Public Companies & Corporate Officers Continue

Faegre Drinker Biddle & Reath LLP on 8/27/2020

SEC Chairman Jay Clayton has repeatedly touted his focus on “Main Street.” In doing so, he unleashed the Division of Enforcement’s Asset Management specialty unit on the investment advisory industry and finalized and...more

Supreme Court Affirms Lorenzo v. SEC, Expanding the Scope of Primary Liability for Securities Fraud

King & Spalding on 4/5/2019

On March 27, 2019, the U.S. Supreme Court issued its decision in Lorenzo v. SEC,[i] affirming the expansive view of the U.S. Securities and Exchange Commission (“SEC” or “Commission”) that, under the right circumstances,...more

Supreme Court: Intentionally Disseminating a False Statement One Did Not “Make” May Still Violate SEC Rule 10b-5

Pillsbury Winthrop Shaw Pittman LLP on 4/4/2019

In a significant ruling, the U.S. Supreme Court has expanded the potential liability of those involved in disseminating material misrepresentations to potential investors—exposing them to primary liability under SEC Rule...more

Supreme Court Declines to Extend Janus’ Reach, Upholds Primary Liability Under the Anti-Fraud Provisions of the Securities Laws

Jackson Walker on 4/2/2019

In a 6 to 2 opinion Wednesday, the U.S. Supreme Court declined to extend its holding in Janus Capital Grp., Inc. v. First Derivative Traders, 564 U.S. 135 (2011) beyond Exchange Act Rule 10b-5(b), and held that a person who...more

Chris Lazarini Provides Insight on Appeal of Disgorgement Order

Bass, Berry & Sims PLC on 3/12/2019

Bass, Berry & Sims attorney Chris Lazarini provided insight on a case in which the defendant appealed a verdict claiming the court abused its discretion and issued a “highly excessive” judgment when it ordered him to disgorge...more

Five Advantages to Section 18 – A New Weapon for Institutions

Mintz - Securities Litigation Viewpoints on 9/30/2015

Section 18 of the Securities Exchange Act, while seldom used in the past, has been increasingly used by institutional investors in suits against banks and other entities. The advantages of Section 18 are as follows...more

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