In a recent decision, Moab Partners, L.P. v. Macquarie Infrastructure Corporation, the U.S. Court of Appeals for the Second Circuit vacated a lower court’s dismissal of claims under.
Looking back, 2022 was light on groundbreaking appellate-level securities decisions. The U.S. Court of Appeals for the Second Circuit, however, closed out the year with a notable.
U.S. Court of Appeals for the Second Circuit closed out 2022 with decision in Menora Mivtachim Insurance Ltd. v. Frutarom Industries Ltd. articulating new, restrictive conception of purchaser-seller rule that limits class of plaintiffs with standing to recover.
On January 11, 2023, the United States District Court for the Northern District of California dismissed a putative class action asserting claims under Section 10(b) of the Securities.
Cornerstone Research reports that during the first six months of 2022, plaintiffs filed 110 securities class actions, a pace that is generally in line 2.8% higher with what we saw.