Mealeys

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Mealey's Securities/D&O Liability - Split 3rd Circuit Panel: Investor Opt-Out Suits Not Subject To SLUSA Preclusion
Posted on 13 Sep 2019 by Mealeys

PHILADELPHIA - A split Third Circuit U.S. Court of Appeals panel ruled Sept. 12 that the Securities Litigation Uniform Standards Act (SLUSA) does not prohibit investors who opt out from class actions from bringing individual actions, reversing a federal... Read More

Mealey's Securities/D&O Liability - Panel Affirms Summary Judgment Ruling In Merger Deal Lawsuit
Posted on 13 Sep 2019 by Mealeys

NEW YORK - A Second Circuit U.S. Court of Appeals panel on Sept. 13 ruled that a federal district court did not err in granting summary judgment in favor of defendants in a securities class action because the lead plaintiff in the action failed to plead... Read More

Mealey's Securities/D&O Liability - Section 10(b) Claims Trimmed In Stock Drop Suit Against Airline Company
Posted on 12 Sep 2019 by Mealeys

LAS VEGAS - A federal judge in Nevada on Sept. 9 ruled that shareholders have sufficiently pleaded only a portion of their federal securities law violation claims stemming from an airline company and certain of its current and former senior executives'... Read More

Mealey's Securities/D&O Liability - Untimely Claims In Investor Suit Against Drug Maker, Others Dismissed
Posted on 12 Sep 2019 by Mealeys

TRENTON, N.J. - A federal judge in New Jersey on Sept. 10 ruled that dismissal of a securities class action lawsuit against specialty pharmaceutical and medical device company Valeant Pharmaceuticals International Inc. and certain of its former senior... Read More

Mealey's Securities/D&O Liability - Securities Law Claims In Stock Drop Suit Over ICO Trimmed
Posted on 12 Sep 2019 by Mealeys

NEW YORK - Shareholders of a Chinese internet company have failed to plead any material misrepresentations or omissions or scienter in arguing that the company and its CEO violated federal securities laws by failing to disclose that the company had engaged... Read More

Mealey's Securities/D&O Liability - Resort Stockholder Sues Company Over Allegedly Deficient Proxy Statement
Posted on 10 Sep 2019 by Mealeys

NEW YORK - A stockholder of Peak Resorts Inc. sued the company and its Board of Directors in a New York federal court on Sept. 6, alleging that the defendants issued a proxy statement for a proposed merger deal with Vail Resorts Inc. that was materially... Read More

Mealey's Securities/D&O Liability - Dismissal Of Breach Of Contract Suit Against Mutual Fund Affirmed
Posted on 10 Sep 2019 by Mealeys

NEW YORK - A federal district court did not err in dismissing investors' breach of contract lawsuit against a mutual fund over its concentration of investments in the health care industry because guidance issued by the Securities and Exchange Commission... Read More

Mealey's Securities/D&O Liability - Panel: SLC Investigation In Derivative Suit Was Reasonable, In Good Faith
Posted on 9 Sep 2019 by Mealeys

ATLANTA - A federal district court did not err in granting a motion for summary judgment filed by defendants in a shareholder derivative lawsuit on behalf of nominal defendant Aflac Inc. because the shareholders failed to show that a special litigation... Read More

Mealey's Securities/D&O Liability - DeVry Successor To Pay $27.5M To Settle Shareholder Claims In Stock Drop Suit
Posted on 4 Sep 2019 by Mealeys

CHICAGO - For-profit college operator Adtalem Global Education Inc. will pay $27.5 million to settle investor claims that it misrepresented statistics related to its job-placement rates and concealed information regarding regulatory agency investigations... Read More

Mealey's Securities/D&O Liability - SEC Wraps Honeywell Asbestos Liability Investigation Without Enforcement Measures
Posted on 3 Sep 2019 by Mealeys

WASHINGTON, D.C. - The Securities and Exchange Commission will not recommend enforcement measures against Honeywell International Inc. for its reporting of asbestos liabilities related to Bendix Friction Materials after the agency wrapped up an investigation... Read More

Mealey's Securities/D&O Liability - Panel: Objectors Waived Arguments In $3B Petrobras Securities Settlement
Posted on 3 Sep 2019 by Mealeys

NEW YORK - Ruling that objectors to a nearly $3 billion securities class action settlement between shareholders and Brazilian oil company Petroleo Brasileiro S.A. (Petrobras) and others waived their arguments against the settlement on appeal because they... Read More

Mealey's Securities/D&O Liability - Panel: Investors Have Standing To Bring Claims Against Investment Advisers
Posted on 30 Aug 2019 by Mealeys

NEW ORLEANS - A federal district court erred in finding that investors lacked standing under Article III of the U.S. Constitution to sue their former investment advisers for securities fraud under Louisiana law, a Fifth Circuit U.S. Court of Appeals panel... Read More

Mealey's Securities/D&O Liability - Ponzi Schemer Fails To Get Conviction Overturned On Appeal To 11th Circuit
Posted on 30 Aug 2019 by Mealeys

ATLANTA - An 11th Circuit U.S. Court of Appeals panel on Aug. 28 upheld the conviction of an alleged Ponzi scheme participant, ruling that a federal district court did not err in denying her motion for acquittal on charges of wire fraud and conspiracy... Read More

Mealey's Securities/D&O Liability - Fitbit, Officers Seek Dismissal Of Securities Law Claims In Stock-Drop Suit
Posted on 28 Aug 2019 by Mealeys

SAN FRANCISCO - Shareholders in a securities class action lawsuit against a manufacturer of wearable fitness-tracking devices and certain of its executive officers have failed to plead impermissible fraud-by-hindsight in arguing that the defendants issued... Read More

Mealey's Securities/D&O Liability - Motion To Appeal Class Certification Ruling In Securities Lawsuit Denied
Posted on 28 Aug 2019 by Mealeys

CINCINNATI - A Sixth Circuit U.S. Court of Appeals panel on Aug. 23 ruled that a federal district court did not err in granting class certification in a securities class action brought against the owner of private correctional and detention facilities... Read More