Mealeys

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Mealey's Securities/D&O Liability - Supreme Court Justices Will Not Hear Appeal In SEC Enforcement Action
Posted on 9 Oct 2019 by Mealeys

WASHINGTON, D.C. - The U.S. Supreme Court on Oct. 7 declined review of an 11th Circuit U.S. Court of Appeals ruling that held that the federal appellate court lacked "authority" to consider a broker's evidentiary challenges because he failed... Read More

Mealey's Securities/D&O Liability - High Court Declines Review Of Inside Trader's Denial Of Request For New Trial
Posted on 9 Oct 2019 by Mealeys

WASHINGTON, D.C. - The U.S. Supreme Court on Oct. 7 decided not to review the Second Circuit U.S. Court of Appeals' ruling affirming a federal district court's denial of a new trial against a man convicted of insider trading (William T. Walters... Read More

Mealey's Securities/D&O Liability - Real Estate Investment Trust, Others To Pay $1B To Settle Securities Law Claims
Posted on 2 Oct 2019 by Mealeys

NEW YORK - Defendants in a securities class action lawsuit against a real estate investment trust, several of its senior executives and directors, its auditor and underwriters of three of its stock offerings will pay a combined $1.025 billion to settle... Read More

Mealey's Securities/D&O Liability - Investor Sues Cannabis Grower, Alleging False, Misleading IPO Documents
Posted on 30 Sep 2019 by Mealeys

NEW YORK - A shareholder on Sept. 25 filed a securities class action against a commercial cannabis grower in New York federal court, alleging that the company, certain of its officers and directors and underwriters of its initial public offering (IPO... Read More

Mealey's Securities/D&O Liability - Injunctions Aren't Penalties, Panel Rules In Remanding Securities Fraud Suit
Posted on 30 Sep 2019 by Mealeys

PHILADELPHIA - Ruling that injunctions under Sections 21(d)(1) and (6) of the Securities Exchange Act are not penalties governed by a provision of the United States code, a Third Circuit U.S. Court of Appeals panel on Sept. 26 ruling on what it described... Read More

Mealey's Securities/D&O Liability - No Actionable Misstatement Leads To Dismissal Of Facebook Investor Claims
Posted on 30 Sep 2019 by Mealeys

SAN JOSE, Calif. - A federal judge in California on Sept. 25 ruled that lead plaintiffs in a consolidated securities class action against social media networking website Facebook Inc. and several of its senior executives failed to sufficiently plead an... Read More

Mealey's Securities/D&O Liability - DTSA Claim In Trade Secrets Lawsuit Over Licensing Contract Dismissed
Posted on 30 Sep 2019 by Mealeys

NEW YORK - A provider of software services for the management of structured finance and derivative portfolios failed to sufficiently plead that its former client violated provisions of the Defend Trade Secrets Act (DTSA) by improperly using its proprietary... Read More

Mealey's Securities/D&O Liability - SEC Seeks Entry Of Judgment For $30M EpiPen Classification Settlement
Posted on 30 Sep 2019 by Mealeys

WASHINGTON, D.C. - Mylan N.V. will pay $30 million to settle claims brought by the Securities and Exchange Commission alleging that the pharmaceutical company misclassified its EpiPen epinephrine autoinjector as a generic product to avoid paying rebates... Read More

Mealey's Securities/D&O Liability - Herbalife To Pay $20M To Settle SEC Enforcement Action Over Compensation Claims
Posted on 30 Sep 2019 by Mealeys

WASHINGTON, D.C. - International direct selling company Herbalife Nutrition Ltd. will pay a $20 million civil penalty to settle federal securities law claims brought by the Securities and Exchange Commission in connection with the company's alleged... Read More

Mealey's Securities/D&O Liability - Stock-Drop Suit Claims Against Drug Maker Dismissed; Class Certification Denied
Posted on 26 Sep 2019 by Mealeys

BOSTON - A federal judge in Massachusetts on Sept. 23 ruled that a lead plaintiff in a securities class action lawsuit against a drug company and certain of its current and former senior executives failed to sufficiently establish the necessary causal... Read More

Mealey's Securities/D&O Liability - Claims Trimmed In Stock Drop Suit Against Obesity Drug Maker
Posted on 25 Sep 2019 by Mealeys

SAN DIEGO - A federal judge in California on Sept. 23 ruled that the lead plaintiff in a securities class action lawsuit has sufficiently pleaded scienter and loss causation for several, but not all, of his federal securities law claims against a pharmaceutical... Read More

Mealey's Securities/D&O Liability - District Court's Order For New Trial Against Broker Overturned On Appeal
Posted on 23 Sep 2019 by Mealeys

NEW YORK - A federal district court erred in granting a new trial in a criminal action against a broker-dealer charged in connection with a series of misrepresentations he made to counterparties in residential mortgage-backed securities trades because... Read More

Mealey's Securities/D&O Liability - Split Panel Affirms Dismissal Of Securities Suit Based On Act Of State Doctrine
Posted on 20 Sep 2019 by Mealeys

SAN FRANCISCO - A split Ninth Circuit U.S. Court of Appeals panel on Sept. 17 ruled that a federal district court correctly ruled that a securities fraud class action lawsuit against a mining company and several of its current and former senior executives... Read More

Mealey's Securities/D&O Liability - District Court's Dismissal Of Tesla Stock Drop Suit Proper, Defendants Argue
Posted on 19 Sep 2019 by Mealeys

SAN FRANCISCO - A federal district court did not err in dismissing a shareholder class action lawsuit against automaker Tesla Inc. and certain of its senior executives for failure to cure pleading deficiencies that had previously been dismissed because... Read More

Mealey's Securities/D&O Liability - Operators Of Bond Scheme Ordered To Pay $813,000 Disgorgement, Civil Penalties
Posted on 19 Sep 2019 by Mealeys

AUSTIN, Texas - A federal judge in Texas on Sept. 17 ordered the operators of a "death put" bond investment scheme to pay nearly $813,000 in disgorgement, prejudgment interest and civil penalties to the Securities and Exchange Commission after... Read More