Mealeys

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Mealey's Securities/D&O Liability - Medical Marijuana Company Named In Stock-Drop Suit Over Alleged Misstatements
Posted on 14 Feb 2020 by Mealeys

BROOKLYN, N.Y. - A medical marijuana company and two of its senior executives issued several misrepresentations in reporting documents with Canadian securities regulators overstating the company's financial and business condition in violation of federal... Read More

Mealey's Securities/D&O Liability - Bribery Claims In Securities Suit Deemed Not Actionable; New Claim Time-Barred
Posted on 13 Feb 2020 by Mealeys

NEW YORK - Even though lead plaintiffs in a securities class action lawsuit against a multinational building materials company and others have added another defendant and cause of action against that defendant in their amended complaint, they have still... Read More

Mealey's Securities/D&O Liability - Panel Rejects Securities Fraudster's Ineffective Assistance Of Counsel Claims
Posted on 13 Feb 2020 by Mealeys

PHILADELPHIA - A federal district court did not err in ruling that a convicted securities fraudster failed to sufficiently show that he received ineffective assistance of counsel before, during and after his conviction on 21 criminal counts in connection... Read More

Mealey's Securities/D&O Liability - Approval Of $65M Settlement In SeaWorld Blackfish Stock-Drop Suit Sought
Posted on 13 Feb 2020 by Mealeys

SAN DIEGO - Shareholders in a securities class action alleging that SeaWorld Entertainment Inc., its 100 percent shareholder and certain of its current and former senior executives asked a federal judge in California on Feb. 11 to grant preliminary approval... Read More

Mealey's Securities/D&O Liability - Insufficiently Amended Claims Succumb To Dismissal Motion In Stock-Drop Suit
Posted on 11 Feb 2020 by Mealeys

FORT LAUDERDALE, Fla. - Dismissing a second amended complaint filed by a lead plaintiff in a securities class action lawsuit against a health care administration company and certain of its executive officers is warranted because the lead plaintiff failed... Read More

Mealey's Securities/D&O Liability - Insufficient Scienter Allegations Lead To Dismissal Of Claims In Stock-Drop Suit
Posted on 7 Feb 2020 by Mealeys

TAMPA, Fla. - A federal judge in Florida on Feb. 6 ruled that lead plaintiffs in a securities class action against a company that specializes in foodservice equipment and certain of its current and former senior executives failed to plead the necessary... Read More

Mealey's Securities/D&O Liability - Securities Law Claims In Philip Morris E-Cigarette Class Action Dismissed
Posted on 6 Feb 2020 by Mealeys

NEW YORK - A federal judge in New York on Feb. 4 ruled that lead plaintiffs in a securities class action lawsuit alleging that tobacco company Philip Morris International Inc. and several of its senior executives misrepresented clinical study results... Read More

Mealey's Securities/D&O Liability - Judge: Defendants In Stock-Drop Suit Had Duty To Disclose Product Recalls
Posted on 6 Feb 2020 by Mealeys

SAN FRANCISCO - A federal judge in California on Feb. 4 ruled that investors have sufficiently shown that current and former top executives of a manufacturer of algae-based food, nutrition and specialty ingredients products violated federal securities... Read More

Mealey's Securities/D&O Liability - Investor Sues Mattel, Others Over Allegedly Understated Tax Expense
Posted on 5 Feb 2020 by Mealeys

LOS ANGELES - Toymaker Mattel Inc., certain of its current and former executive officers and its independent auditor understated the company's income tax expense by $109 million in the third quarter of 2017 after misrepresenting Mattel's financial... Read More

Mealey's Securities/D&O Liability - Investor: Amended Complaint In Apple Stock-Drop Suit Not A Puzzle Pleading
Posted on 4 Feb 2020 by Mealeys

OAKLAND, Calif. - Dismissal of claims in a securities class action lawsuit against Apple Inc. and two of its senior executives is not warranted because a lead plaintiff's amended complaint is not a puzzle pleading and because the lead plaintiff has... Read More

Mealey's Securities/D&O Liability - Panel: Court Correctly Denied No-Knowledge Argument In Securities Fraud Action
Posted on 3 Feb 2020 by Mealeys

PHILADELPHIA - A Third Circuit U.S. Court of Appeals panel on Jan. 30 ruled that a federal district court did not err in ruling that a defendant in a securities fraud criminal suit failed to sufficiently establish beyond a preponderance of the evidence... Read More

Mealey's Securities/D&O Liability - Panel Upholds Forfeiture, Substitute Assets Orders In Securities Fraud Action
Posted on 31 Jan 2020 by Mealeys

PHILADELPHIA - A federal district court did not err in determining that audita querela is not an available remedy to vacate a final forfeiture and substitute assets orders in a securities fraud criminal action, a Third Circuit U.S. Court of Appeals panel... Read More

Mealey's Securities/D&O Liability - Amendments Sufficient As Judge Denies Dismissal Bid In Toshiba Securities Suit
Posted on 31 Jan 2020 by Mealeys

LOS ANGELES - Shareholders in a securities class action lawsuit against Toshiba Corp. have sufficiently alleged a domestic transaction under the irrevocable liability test in arguing that the lead plaintiff in the action purchased Toshiba American Depositary... Read More

Mealey's Securities/D&O Liability - Insufficiently Pleaded Claims In Stock-Drop Suit Against Drug Maker Dismissed
Posted on 30 Jan 2020 by Mealeys

SAN FRANCISCO - A federal judge in California on Jan. 27 ruled that an investor has failed to properly plead falsity or scienter in arguing that a drug company and two of its senior executives violated federal securities law by failing to disclose to... Read More

Mealey's Securities/D&O Liability - Congressmen Tell High Court That Securities Laws Allow SEC To Seek Disgorgement
Posted on 27 Jan 2020 by Mealeys

WASHINGTON, D.C. - The U.S. Congress has enacted a series of securities laws over the past few decades that have clearly stated that the Securities and Exchange Commission may seek disgorgement in bringing civil actions, and the U.S. Supreme Court should... Read More