Davis Polk partners Ted Polubinski and Brian Burnovski and associates Nikolaus Williams and Diane Hu received a shout out in Litigation Daily’s “Litigator of the Week” column for securing a total victory for Uniti Group when the Third Circuit unanimously affirmed the dismissal of common law fraud and securities claims brought by SLF Holdings LLC against Uniti.

The Court concluded that the defendants had no duty to disclose any of the allegedly concealed information. Specifically, the Court reasoned that defendants “had no duty to disclose the possibility that Uniti’s status as a REIT and the Master Lease could be threatened by potential legal action, particularly when, at the time they made the alleged representations, they had no indication that any lawsuit was forthcoming.” The Court further found that, even if there were such a duty, the company’s disclosures adequately disclosed the risk.

“Litigator of the Week Runners-Up and Shout Outs,” Litigation Daily (August 19, 2022) (subscription required)

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