Mealeys

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Mealey's Securities/D&O Liability - Investors' Stock Drop Claims Against Chinese Delivery Company Dismissed
Posted on 19 Jul 2019 by Mealeys

NEW YORK - Lead plaintiffs in a securities class action lawsuit against a Chinese express delivery company and others have failed to sufficiently show that the defendants issued any material misrepresentations or omissions in the offering documents for... Read More

Mealey's Securities/D&O Liability - Dismissal Of Securities Claims Against Oil Company, Others Affirmed
Posted on 18 Jul 2019 by Mealeys

NEW ORLEANS - A federal district court did not err in dismissing federal securities law claims brought by investors of an oil company because the investors failed to sufficiently plead any material misrepresentations or omissions or scienter in making... Read More

Mealey's Securities/D&O Liability - Shkreli's Securities Fraud Conviction Upheld On Appeal To 2nd Circuit
Posted on 18 Jul 2019 by Mealeys

NEW YORK - A Second Circuit U.S. Court of Appeals panel on July 18 upheld the conviction of former pharmaceutical company CEO and hedge fund manager Martin Shkreli on charges that he bilked investors of millions of dollars in investments (United States... Read More

Mealey's Securities/D&O Liability - Securities Suit Claims Against Cement Company Dismissed With Leave To Amend
Posted on 17 Jul 2019 by Mealeys

NEW YORK - A federal judge in New York on July 12 ruled that lead plaintiffs in a securities class action against a multinational building materials company and two of its senior executives have failed to sufficiently state a claim for relief in alleging... Read More

Mealey's Securities/D&O Liability - Investor Files Suit Against Semiconductor Company To Halt Proposed Merger Deal
Posted on 12 Jul 2019 by Mealeys

NEW YORK - A shareholder of a semiconductor company on July 10 sued the company and its board of directors in New York federal court, alleging that the defendants violated federal securities laws in issuing a proxy statement for a proposed merger deal... Read More

Mealey's Securities/D&O Liability - Dismissal Of Rule 10b-5 Claim In Securities Suit Was Warranted, Panel Rules
Posted on 12 Jul 2019 by Mealeys

NEW YORK - A federal district court properly dismissed a guardian's federal securities law claim brought on behalf of her disabled sister against several defendants in a private action because the plaintiff failed to plausibly show that the unsuitability... Read More

Mealey's Securities/D&O Liability - Tech Company, CEO Hit With Securities Class Action Lawsuit
Posted on 10 Jul 2019 by Mealeys

LOS ANGELES - An investor sued a tech company and its CEO in California federal court on July 9, alleging that the defendants misrepresented the terms of an agreement they reached with another company in violation of federal securities laws for the development... Read More

Mealey's Securities/D&O Liability - Panel: SLUSA Does Not Preclude Beneficiary's Fiduciary Duty Claims
Posted on 9 Jul 2019 by Mealeys

PASADENA, Calif. - A Ninth Circuit U.S. Court of Appeals panel on July 5 ruled that a federal district court erred in holding that the Securities Litigation Uniform Standards Act (SLUSA) precluded a beneficiary's state law claims involving breaches... Read More

Mealey's Securities/D&O Liability - Jury Instruction In Insider Trading Trial Not Prejudicial, Panel Rules
Posted on 9 Jul 2019 by Mealeys

NEW YORK - A Second Circuit U.S. Court of Appeals panel on July 8 ruled that a federal district court did not commit plain error in issuing jury instructions in a criminal proceeding against an alleged inside trader because any error issued by the district... Read More

Mealey's Securities/D&O Liability - Failure To Plead With Particularity Leads To Dismissal Of Securities Claims
Posted on 8 Jul 2019 by Mealeys

NEWARK, N.J. - A lead plaintiff in a securities class action lawsuit against a developer of therapeutic products and three of its senior executives has failed to sufficiently show that it may rely on confidential witness statements in making its federal... Read More

Mealey's Securities/D&O Liability - Split 4th Circuit Grants Review Of Merger Deal Class Action Rulings, Reverses
Posted on 3 Jul 2019 by Mealeys

RICHMOND, Va. - A split Fourth Circuit U.S. Court of Appeals panel on June 28 granted a pair of appeals in investor lawsuits stemming from a merger agreement between utility companies, ruling that "relevant factors weigh heavily in favor of a prompt... Read More

Mealey's Securities/D&O Liability - Panel Affirms Court's Dismissal Of Stock-Drop Suit For Failure To Plead Scienter
Posted on 2 Jul 2019 by Mealeys

BOSTON - A federal district court did not err in dismissing lead plaintiffs' claims in a securities class action against a biopharmaceutical company and three of its current or former executive officers because the plaintiffs failed to sufficiently... Read More

Mealey's Securities/D&O Liability - Panel: Court Incorrectly Granted Summary Judgment In SEC Enforcement Action
Posted on 2 Jul 2019 by Mealeys

NEW ORLEANS - A Fifth Circuit U.S. Court of Appeals panel on June 27 held that a federal district court erred in granting the Securities and Exchange Commission's summary judgment motion in an enforcement action because it failed to consider "several... Read More

Mealey's Securities/D&O Liability - FedEx Hit With Stock- Drop Suit Over Cyberattack Misrepresentations
Posted on 28 Jun 2019 by Mealeys

NEW YORK - FedEx Corp. and certain of its senior executives concealed the extent of financial damage resulting from a cyberattack on its newly acquired European logistics company in violation of federal securities law, a pension fund argues in a June... Read More

Mealey's Securities/D&O Liability - Dismissal Of Investor Suit Stemming From Ponzi Scheme Vacated, Remanded
Posted on 27 Jun 2019 by Mealeys

SAN FRANCISCO - Investors have plausibly alleged that a financial institution assisted a convicted Ponzi schemer's fraud by continuing to operate his company's deposit accounts and disperse funds, even though it had discovered his fraud and stopped... Read More