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30 Sep 2021, 12:49 pm by Kevin LaCroix
In the latest dismissal motion ruling in a COVID-19-related securities class action lawsuit, the federal judge presiding over the securities suit filed against private prison company The GEO Group has granted the defendants’ motion to dismiss with respect to the plaintiff’s coronavirus-related allegations, while denying the motion with respect to certain of the plaintiff’s allegations unrelated to COVID-19. [read post]
2 Aug 2012, 11:38 pm by Kevin LaCroix
According to their amended complaint, during the class period, the defendants inflated the amount of the company’s proven oil reserves, overstated reported earnings inflated profits and misrepresented the company’s internal controls. [read post]
13 Jul 2022, 6:34 am by Kevin LaCroix
”   The plaintiff alleges that the defendants violated Sections 11 and 12(a)(1) of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. [read post]
21 Aug 2022, 7:08 am by Kevin LaCroix
”   The complaint alleges that the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. [read post]
4 Apr 2023, 8:28 am by jeffreynewmanadmin
The Securities and Exchange Commission has charged Charlie Javice, the founder of the former student loan assistance company Frank, with fraud in connection with the $175 million sale of the company to JPMorgan Chase Bank, N.A. [read post]
24 Feb 2023, 9:47 am by Unknown
Because the Oregon securities laws do not apply to the notes, the court ruled that the defendants are entitled to summary judgment on plaintiff’s securities claims.The case is No. 3:20-cv-01190. [read post]
14 Oct 2011, 1:48 am by Kevin LaCroix
The company and certain of its directors and officers were also named as defendants in a related securities class action lawsuit (about which refer here), but that action was voluntarily dismissed without prejudice. [read post]
22 May 2022, 8:33 am by Kevin LaCroix
Allegations that the defendant company soft-pedaled bad news disclosure is a frequent allegation in securities lawsuits. [read post]
4 Apr 2022, 1:48 pm by Kevin LaCroix
”   The complaint alleges that the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. [read post]
17 Dec 2018, 12:00 am by Race to the Bottom
The court held Plaintiff did not allege with particularity a violation of Section 10(b) or Section 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).Plaintiff alleges that starting in the first quarter of 2015, Defendants misled shareholders by attributing company growth to increased sales in China. [read post]
31 May 2020, 1:51 pm by Kevin LaCroix
The rulings illustrate the extent to which life sciences companies often are able to successfully defend themselves against securities suits. [read post]
5 Jan 2023, 3:30 am by John Jenkins
I think most securities lawyers are a little paranoid when it comes to their public company clients’ interactions with securities analysts. [read post]
24 Jun 2019, 7:44 pm by Kevin LaCroix
Nessim Mezrahi In the following guest post, Nessim Mezrahi, cofounder and CEO of SAR, a securities class action data analytics and software company, takes a look at possible defenses to securities class action lawsuits that corporate defendants may have based an analysis of the claimed stock price declines involved. [read post]
22 Nov 2021, 12:48 pm by Kevin LaCroix
The plaintiffs’ track record against defendant companies that experienced coronavirus outbreaks in their facilities is particularly poor; thus, dismissal motions were granted in the COVID-19-related securities lawsuits that filed against Norwegian Cruise Lines (discussed here) and Carnival Corp. [read post]
28 Feb 2022, 12:06 pm by Kevin LaCroix
  The complaint alleges that the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and that defendants violated Sections 11, 12(a)(2) and (15) of the Securities Act of 1933. [read post]
25 Jan 2013, 12:31 am by Kevin LaCroix
The SEC’s complaint, which can be found here, asserts claims for securities fraud against the three defendants for alleged “misrepresentations to investors by the bank’s parent company. [read post]
21 Jun 2011, 8:25 pm by Rita Zhao
The defendants in Perry include the company’s current and former directors and officers. [read post]
18 Aug 2022, 7:40 am by Barsumian Armiger
The Indiana Court of Appeals recently reversed a trial court’s grant of summary judgment in favor of a music venue security company alleged to have caused a crowd surfer’s injuries in a fall. [read post]