With new leadership at the SEC, companies have had to grapple less with disclosure mandates and more with macroeconomic and geopolitical headwinds. We address related disclosure implicati...
On August 20, 2025, a Ninth Circuit panel affirmed the dismissal of a putative securities class action against a pharmaceutical company. It found that while the Food and Drug Administrati...
On April 19, 2024, the U.S. Court of Appeals for the Ninth Circuit affirmed the dismissal of a putative securities class action. The plaintiff’s complaint relied heavily on allegations...
In Macquarie Infrastructure Corp. v. Moab Partners, L.P., the Supreme Court held that an issuer’s nondisclosure of information required by Item 303 of Regulation S-K cannot support a cl...
On March 25, 2024, a Ninth Circuit panel affirmed the dismissal of a putative securities class action alleging that a biopharmaceutical company misled the public in May 2020 about the dev...
On October 11, 2023, a Ninth Circuit panel dismissed for lack of jurisdiction an appeal from the dismissal of a putative securities class action. The appellant was an investor who filed ...
In an en banc 6-5 decision, the Ninth Circuit upheld a forum selection clause in Gap’s bylaws that requires all claims brought on behalf of the company to be filed in Delaware state cou...
In Slack Technologies, LLC v. Pirani, the Supreme Court confirmed that under Section 11 of the Securities Act of 1933 plaintiffs must “trace” their shares – that is, plead and prove...
The Ninth Circuit last week issued a decision confirming that companies working through product-specific issues do not need to provide investors with “real-time updates” about every a...
On September 20, a divided Ninth Circuit panel broke with nearly 50 years of precedent in holding that investors could challenge the accuracy of Slack’s registration statement even if t...
