News & Analysis as of

Shareholder Litigation Private Right of Action

Patterson Belknap Webb & Tyler LLP

Justices to Consider Whether Section 47(b) of the Investment Company Act Creates a Federal Cause of Action

In its October 2025 Term, the Supreme Court will decide whether Section 47(b) of the Investment Company Act of 1940 (“ICA”) creates a federal cause of action for private plaintiffs seeking rescission of contracts that are...more

Goodwin

Supreme Court to Resolve Circuit Split Over Existence of Implied Private Right of Action Under Section 47(b) of the Investment...

Goodwin on

On June 30, 2025, the Supreme Court granted certiorari in FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd., agreeing to resolve a circuit split over whether private parties have an implied right of action to...more

Ropes & Gray LLP

Supreme Court to Consider Closing a Back Door to Fund Litigation Claims Under the Investment Company Act

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On June 30, the U.S. Supreme Court agreed to hear a case that will determine whether Section 47(b) of the Investment Company Act of 1940 (ICA) creates a private right of action for shareholders of registered investment...more

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - September 2019

In this issue, we summarize regulatory, litigation and industry developments from May to September 2019 impacting the investment management sector, including SEC action on standards of conduct for broker-dealers and...more

Skadden, Arps, Slate, Meagher & Flom LLP

Exploring the New California Consumer Privacy Act’s Unusual Class Action Cure Provision

The California Consumer Privacy Act (CCPA) takes effect on January 1, 2020, and applies to all companies that do business in the Golden State. The new act is California’s rejoinder to Europe’s General Data Protection...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2019 Insights: 2018-19 Supreme Court Update

Much of the attention on the U.S. Supreme Court in the 2018-19 term has concerned its composition or its handling of cases involving some of the signature initiatives of President Donald Trump’s administration. Less noticed...more

A&O Shearman

Supreme Court Will Hear Case Raising Whether A Private Action May Be Brought For Alleged Misrepresentations In Connection With A...

A&O Shearman on

On January 4, 2019, the United States Supreme Court granted a petition for writ of certiorari concerning whether Section 14(e) of the Securities Exchange Act of 1934 includes an implied private right of action for negligent...more

Goodwin

Business Litigation Reporter - May 2015

Goodwin on

Lawsuit Dismissed Where Defendant Hulu Did Not “Knowingly” Disclose Personal Identifying Information. In In re: Hulu Privacy Litigation, 2015 WL 1503506 (N.D. Cal. March 31, 2015), the plaintiffs alleged that Hulu had...more

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