Mealeys

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Mealey's Securities/D&O Liability - Investor Sues Software Provider, Others Over Data Breach Misrepresentations
Posted on 29 Oct 2019 by Mealeys

SAN FRANCISCO - Zendesk Inc. and several of its senior executive officers concealed the company's exposure to a massive data breach that affected more than 10,000 customers in addition to failing to disclose its poor financial condition in several... Read More

Mealey's Securities/D&O Liability - ExxonMobil Hit With Suit Over Misrepresentations Concerning Climate Change
Posted on 28 Oct 2019 by Mealeys

BOSTON - Massachusetts Attorney General Maura Healey sued Exxon Mobile Corp. in Massachusetts state court on Oct. 24, arguing that the oil and gas company engaged in deceptive advertising to the state's consumers and issued misrepresentations to investors... Read More

Mealey's Securities/D&O Liability - Panel Asked To Overturn District Court's Dismissal Of Securities Law Claims
Posted on 28 Oct 2019 by Mealeys

BOSTON - A federal judge in Massachusetts erred in ruling that lead plaintiffs in a securities class action lawsuit against a biopharmaceutical company and certain of its executive officers failed to sufficiently plead the elements of their federal securities... Read More

Mealey's Securities/D&O Liability - Defendants: Investor Fails To Plead Elements Of Securities Claims
Posted on 25 Oct 2019 by Mealeys

TRENTON, N.J. - The lead plaintiff in a securities class action lawsuit against a former biotech company, several of its current and former officers and directors and others has failed to sufficiently state a claim for relief in arguing that the defendants... Read More

Mealey's Securities/D&O Liability - Securities Suit Defendants' Request To Appeal Class Certification Ruling Denied
Posted on 25 Oct 2019 by Mealeys

CINCINNATI - A Sixth Circuit U.S. Court of Appeals panel on Oct. 23 denied a petition for permission to appeal in a securities class action lawsuit against for-profit hospital operator Community Health Systems Inc. (CHS) and two of its senior officers... Read More

Mealey's Securities/D&O Liability - Judge: Investors Fail To Plead Demand Futility In Shareholder Derivative Suit
Posted on 24 Oct 2019 by Mealeys

NASHVILLE, Tenn. - Although shareholders have standing to bring their derivative claims on behalf of a fitness benefit program broker, they have failed to show that demand was futile, a federal judge in Tennessee ruled Oct. 21 in dismissing the amended... Read More

Mealey's Securities/D&O Liability - Judge Consolidates Securities Fraud Cases Related To 3M's Chemical Liability
Posted on 23 Oct 2019 by Mealeys

TRENTON, N.J. - A federal judge in New Jersey on Oct. 21 consolidated two securities fraud lawsuits against the 3M Co. and appointed a group of investors as the lead plaintiffs against the company for allegedly issuing false and misleading statements... Read More

Mealey's Securities/D&O Liability - Dealer Seeks Summary Judgment On Claims He Lied During CMBS Negotiations
Posted on 23 Oct 2019 by Mealeys

NEW YORK - A dealer of commercial mortgage-backed securities (CMBS) for Nomura Securities International Inc. is entitled to summary judgment on claims that he issued a series of false statements to investors during purchase and sale negotiations regarding... Read More

Mealey's Securities/D&O Liability - Dismissal Of Some Claims In Securities Suit Against Tech Company, Others Granted
Posted on 22 Oct 2019 by Mealeys

SAN JOSE, Calif. - A federal judge in California on Oct. 18 ruled that although the lead plaintiff in a securities class action against a medical technology company the develops and sells a hair restoration procedure robotic device failed to plead a material... Read More

Mealey's Securities/D&O Liability - E-Cigarette Distributor, Others Hit With Stock Drop Suit Over IPO Misstatements
Posted on 18 Oct 2019 by Mealeys

WEST PALM BEACH, Fla. - A shareholder sued a distributor of e-cigarettes, vaporizers and accessories and products containing hemp-derived cannabidiol (CBD) and certain of its executive officers and directors in Florida federal court on Oct. 16, alleging... Read More

Mealey's Securities/D&O Liability - Dismissal Of Claims In Stock Drop Suit For Failure To Plead Scienter Upheld
Posted on 18 Oct 2019 by Mealeys

NEW YORK - In an Oct. 15 summary order, a Second Circuit U.S. Court of Appeals panel ruled that a federal district court did not err in dismissing federal securities law claims in an investor class action lawsuit against a provider of high technology... Read More

Mealey's Securities/D&O Liability - Securities Class Action Claims Dismissed For Failure To Plead Falsity, Scienter
Posted on 17 Oct 2019 by Mealeys

CHICAGO - A federal judge in Illinois on Oct. 16 ruled that lead plaintiffs in a securities class action lawsuit against a provider of in-flight internet connectivity equipment and services to airlines and airline passengers and certain of its current... Read More

Mealey's Securities/D&O Liability - Appeal Of Final Judgment In SEC Enforcement Action Deemed Frivolous
Posted on 16 Oct 2019 by Mealeys

ATLANTA - In an unpublished per curiam opinion, an 11th Circuit U.S. Court of Appeals panel on Oct. 11 ruled that a pro se defendant's appeal of a final judgment and disgorgement order against him is frivolous and barred by the law-of-the-case doctrine... Read More

Mealey's Securities/D&O Liability - High Court Declines Review Of Attorney Fee Ruling In Securities Class Action
Posted on 15 Oct 2019 by Mealeys

WASHINGTON, D.C. - The U.S. Supreme Court on Oct. 15 decided against review of a Second Circuit U.S. Court of Appeals ruling affirming an award of attorney fees in a securities class action settlement where the petitioner had argued that the award was... Read More

Mealey's Securities/D&O Liability - Securities Fraud Claims Dismissed In Semiconductor Company Stock-Drop Suit
Posted on 14 Oct 2019 by Mealeys

PHILADELPHIA - A federal judge in Pennsylvania on Oct. 9 ruled that lead plaintiffs in a securities class action lawsuit have failed to sufficiently plead their federal securities law claims against a manufacturer of capital equipment and expendable tools... Read More