In SEC v. Jarkesy, the Supreme Court held that the SEC must bring fraud claims seeking penalties in federal court instead of administrative proceedings because defendants are entitled to ...
On April 19, 2024, the U.S. Court of Appeals for the Ninth Circuit affirmed the dismissal of a putative securities class action. The plaintiff’s complaint relied heavily on allegations...
In Macquarie Infrastructure Corp. v. Moab Partners, L.P., the Supreme Court held that an issuer’s nondisclosure of information required by Item 303 of Regulation S-K cannot support a cl...
On March 25, 2024, a Ninth Circuit panel affirmed the dismissal of a putative securities class action alleging that a biopharmaceutical company misled the public in May 2020 about the dev...
On October 11, 2023, a Ninth Circuit panel dismissed for lack of jurisdiction an appeal from the dismissal of a putative securities class action. The appellant was an investor who filed ...
Davis Polk partners Brian Burnovski, Michael Flynn and Neal Potischman authored “9th Circ. Gap ruling creates split on forum selection clause” in Law360. In the article, they discuss ...
In an en banc 6-5 decision, the Ninth Circuit upheld a forum selection clause in Gap’s bylaws that requires all claims brought on behalf of the company to be filed in Delaware state cou...
In Slack Technologies, LLC v. Pirani, the Supreme Court confirmed that under Section 11 of the Securities Act of 1933 plaintiffs must “trace” their shares – that is, plead and prove...
On May 19, 2022, the Ninth Circuit affirmed dismissal of a case claiming securities fraud in the life sciences space, confirming that disappointing results are insufficient to plead fraud...
The Ninth Circuit last week issued a decision confirming that companies working through product-specific issues do not need to provide investors with “real-time updates” about every a...
