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...
Davis Polk partners Brian Burnovski, Michael Flynn and Neal Potischman authored “9th Circ. Gap ruling creates split on forum selection clause” in Law360. In the article, they discuss ...
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...
On April 14, a unanimous Supreme Court held that parties can challenge the constitutionality of the FTC’s and SEC’s administrative proceedings in federal court before an agency review...
The PCAOB signed a statement of protocol agreement with the China Securities Regulatory Commission and the Ministry of Finance of China, which could prevent China-based, U.S.-listed firms...
A novel insider trading case for trading the stock of a company that the trader did not work for and that was not the target in the M&A transaction has drawn attention for its possible im...
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...
A Second Circuit panel affirmed a decision dismissing securities fraud claims against Danske Bank and its officers and directors. The panel unanimously held that plaintiffs had not pled ...
On June 10, 2020, the Ninth Circuit issued a decision affirming the dismissal of a securities case filed against a life sciences company for supposedly misrepresenting the likelihood that...
