USA - October 22 2010 The U.S. District Court for the Southern District of New York recently granted defendants’ motions to dismiss a consolidated class action asserting claims for securities fraud in violation of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 brought by shareholders of Celestica, Inc., a Canadian electronics corporation, against the company and its former officers, as well as against Onex Corporation, the largest controlling shareholder of Celestica, and Onex’s CEO (together, the Onex defendants) based on, among other things, the plaintiffs’ failure to plead fraud with the specificity required by Rule 9(b) of the Federal Rules of Civil Procedure.
USA - September 25 2013 A California federal court recently allowed a case to proceed in which an individual consumer is challenging an exclusive licensing deal between the…
USA - March 5 2010 Plaintiff shareholders of NutraCea, a public corporation that produces stabilized rice bran to sell as a nutritional supplement, sued CEO Bradley Edson and CFO Todd Crow for violations of Section 10(b) of the Securities Exchange Act of 1934, and Securities and Exchange Commission Rule 10b-5 promulgated thereunder, control person liability under Section 20(a) of the Exchange Act, and violations of the Arizona Securities Act.
USA - September 17 2010 On September 9, the Delaware Court of Chancery issued its decision in eBay Domestic Holdings, Inc. v. Newmark, et al., which arose from a dispute between eBay and craigslist concerning eBay’s decision to compete with craigslist in the online classifieds business while at the same time owning a substantial minority stake in craigslist.
USA - May 28 2010 Judge John Koeltl in the U.S. District Court for the Southern District of New York recently denied a motion to dismiss a securities class action arising, in part, from the Lehman Brothers bankruptcy filing.