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Fifth Circuit Reverses District Court’s Dismissal Of Putative Securities Fraud Class Action Against Amusement Park Company For Lack Of Standing
Second Circuit Affirms District Court’s Summary Judgment Dismissal Of Securities Fraud Class Action Against Pharmaceutical Company
Northern District Of California Dismisses Putative Class Action With Prejudice For Failure To Adequately Allege Loss Causation And Standing
  • Ninth Circuit Affirms In Part And Reverses In Part Decision Dismissing Section 16(b) Complaint
     
    11/21/2023

    On November 16, 2023, the United States Court of Appeals for the Ninth Circuit affirmed in part and reversed in part a motion to dismiss a derivative action brought by a shareholder of a publicly traded biotechnology company (the “Company”) under Section 16(b) of the Securities Exchange Act of 1934 against the Company, its beneficial owner (the “Beneficial Owner”), one of the Company’s directors (the “Director Defendant”) and his wife, and their trust (the “Trust”).  Andrew E. Roth v. Foris Ventures LLC, et al., 22-16632 (9th Cir. Nov. 13, 2023).
    CATEGORIES : Exchange Act, Section 16(b), Short-Selling