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Securities Fraud Special Purpose Acquisition Companies (SPACs) Misleading Statements

A&O Shearman

Northern District Of California Dismisses Class Action Against Social Media Company

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On May 19, 2025, Judge Edward J. Davila of the United States District Court for the Northern District of California dismissed without prejudice a proposed securities fraud class action asserting claims against a social...more

Jones Day

2023 Securities Litigation Year in Review

Jones Day on

During 2023, securities lawsuit filings rose for the first time in four years. Settlements declined last year; there were nine mega-settlements of more than $100 million, including a $1 billion settlement. Case filings...more

Goodwin

Second Circuit Affirms Dismissal of Securities Fraud Class Action Against Alkermes

Goodwin on

Second Circuit Affirms Dismissal of Securities Fraud Class Action Against Alkermes; Delaware Court of Chancery Allows SPAC Litigation to Proceed; Ex-Theranos CEO Elizabeth Holmes Convicted on Four Counts of Fraud; Second...more

Goodwin

Northern District of California Dismisses Shareholder Derivative Suit Concerning Lack of Diversity

Goodwin on

Northern District of California Dismisses Shareholder Derivative Suit Concerning Lack of Diversity; Delaware Court of Chancery Dismisses Stockholder Suit Against Medical Device Company for Failure to Plead Demand Futility;...more

Farrell Fritz, P.C.

“Do Your Homework!”: SEC Order Sends Strong Message to SPAC Participants on Due Diligence

Farrell Fritz, P.C. on

The Securities and Exchange Commission announced on July 13, 2021 that it settled fraud charges against a special purpose acquisition company, its sponsor, its sponsor’s CEO and its proposed merger target for making...more

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