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Securities Fraud Puffery

Pierce Atwood LLP

Three Key Reasons Why Securities Class Actions Are Failing on Material Misrepresentation Grounds in the District of Massachusetts

Pierce Atwood LLP on

As securities class action filings continue to rise in the First Circuit, courts in the District of Massachusetts are setting a high bar for pleadings—especially when it comes to alleged material misrepresentations....more

Herbert Smith Freehills Kramer

Second Circuit Court of Appeals Articulates Important Limitations on Pleading Fraud in 'Event-Driven' Securities Class Actions

Securities fraud litigation based on regulatory mishaps, environmental disasters, data breaches, sexual harassment revelations, the COVID-19 pandemic and other well-publicized events that affect stock prices has been on the...more

Proskauer - Corporate Defense and Disputes

Failure to Cruise Past the Pleading Requirements in the Norwegian Cruise Lines Securities Class Action

On April 10, 2021, the United States District Court for the Southern District of Florida dismissed a securities class action complaint against Norwegian Cruise Lines (“NCL”) relating to the company’s disclosures made as the...more

A&O Shearman

New York District Court Dismisses Securities Class Action Against Tax Services Provider Alleging Fraudulent Concealment Of CEO's...

A&O Shearman on

On January 17, 2017, Judge Nicholas G. Garaufis of the United States District Court for the Eastern District of New York dismissed a putative class action asserting claims under Sections 10(b), 14(a), and 20(a) of the...more

A&O Shearman

Second Circuit Summarily Affirms Dismissal Of Putative Securities Fraud Class Action Against Pharmacy Benefits Manager Company,...

A&O Shearman on

On May 7, 2019, the United States Court of Appeals for the Second Circuit summarily affirmed the judgment by Judge Edgardo Ramos of the United States District Court for the Southern District of New York granting defendants’...more

A&O Shearman

The Second Circuit Affirms Denial Of Plaintiffs’ Motion For Leave To Amend Securities Class Action On The Ground That Any Such...

A&O Shearman on

On April 29, 2019, the United States Court of Appeals for the Second Circuit affirmed the denial of plaintiffs’ motion for leave to file an amended complaint alleging securities fraud against an international pharmaceutical...more

Sheppard Mullin Richter & Hampton LLP

Second Circuit Holds That Issuer’s Alleged Statements Concerning Its Regulatory Compliance Efforts Do Not Constitute Material...

n Singh v. Cigna Corp., No. 17-3484-cv, 2019 U.S. App. LEXIS 6637 (2d Cir. Mar. 5, 2019), the United States Court of Appeals for the Second Circuit affirmed the dismissal of a class action complaint that purported to base a...more

Dorsey & Whitney LLP

Second Circuit Affirms Dismissal of “Creative Attempt to Recast Corporate Mismanagement as Securities Fraud”

Dorsey & Whitney LLP on

The Second Circuit’s recent decision in Singh v. Cigna Corp., confirms that puffery regarding a corporation’s compliance program cannot form the basis for a stock drop suit. In 2012, Cigna sought to expand its Medicare...more

Proskauer - Corporate Defense and Disputes

Second Circuit Rejects Securities Claims Based on Generic Statements About Ethics and Compliance

The Court of Appeals for the Second Circuit yesterday affirmed the dismissal of a securities class action alleging misrepresentations arising from generalized statements about an issuer’s compliance efforts and Code of...more

A&O Shearman

Southern District Of New York Dismisses Putative Securities Fraud Class Action With Prejudice, Finding Individual Defendants'...

A&O Shearman on

On June 11, 2018, Judge Paul A. Engelmayer of the United States District Court for the Southern District of New York dismissed with prejudice a putative securities fraud class action against veterinary pharmaceutical company...more

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