In the SDNY, hindsight is no substitute for red flags when alleging scienter *

USA - April 16 2013
On April 8, 2013, Judge Shira A. Scheindlin of the Southern District of New York granted auditor Deloitte Touche Tohmatsu CPA's ("DTTC") motion to…

Co-authors: George E. Greer , Christine M. Louie.

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SEC v. Hackers: more cybersecurity enforcement on the horizon? *

USA - March 5 2013
Cybersecurity may be the SEC's newest area for enforcement actions. While the SEC first released Disclosure Guidance concerning cybersecurity in 2011…

Co-authors: Robert Cohen, Katherine C. Lubin .

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Shareholder plaintiffs score a class certification win from SCOTUS *

USA - February 28 2013
On Wednesday, the Supreme Court issued its decision in Amgen, Inc. v. Connecticut Retirement Plans. In a 6-3 decision authored by Justice Ginsburg…

Co-authors: Robert Cohen, Lori Lynn Phillips .

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Santa Clara Superior Court says post-closing damages claims are derivative, not direct *

USA - October 30 2012
Last Friday, Judge Kleinberg of the California Superior Court, County of Santa Clara, dismissed two shareholder class actions against the former directors of Actel Corporation and Applied Signal Technology, Inc. for breach of fiduciary duties arising out of the sales of Actel and Applied Signal to third-party buyers.

Co-authors: Jennifer Nejad, Richard Gallagher, Alex Talarides.

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District court takes a pass on certifying Janus issues for interlocutory review *

USA - October 30 2012
On October 15, 2012, Chief Judge Claudia Wilken of the United States District Court for the Northern District of California denied defendants’ motion for certification of an interlocutory appeal of the court’s prior order denying defendants’ motion to dismiss.

Co-authors: Jennifer Nejad, Richard Gallagher.

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