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Tracing Meets Twombly: Ninth Circuit Sets Section 11 Pleading Standards For...
In a precedent setting decision, the Ninth Circuit affirmed dismissal of a putative class action in In re Century Aluminum Co. Securities Litigation, significantly raising the pleading bar in Section...
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The Sixth Circuit – The New Hotspot for Section 11 Suits
The Sixth Circuit recently made it easier for plaintiffs to bring securities suits brought under Section 11 of the Securities Act of 1933. In a recent ruling in Indiana State Dist. Council v. Omnicare,...
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The Supreme Court’s Omnicare Decision: Implications And Remaining Questions...
On March 24, 2015, the Supreme Court issued its much anticipated decision in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund, No. 13-435, 2015 WL 1291916 (Mar. 24, 2015)....
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Mark Cuban Challenges the Referee: the Constitutionality of SEC In-House Courts
After the repeated challenges to the SEC’s in-house courts as previously reported, Mark Cuban joined the debate by filing an amicus curiae brief in support of petitioners Raymond J. Lucia Companies,...
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Second Circuit Applies Omnicare to Affirm Dismissal of Securities Fraud Actions
On March 4, 2016, the Second Circuit affirmed the dismissal of two related securities actions against Sanofi Pharmaceuticals, its predecessor Genzyme Corporation, and three company executives...
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Equity Trust Notches a Rare Defense Win in SEC Administrative Proceedings
On June 27, 2016, SEC Administrative Law Judge Carol Fox Foelak dismissed the Division of Enforcement’s charges against IRA custodian Equity Trust Company in connection with the company’s processing of...
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