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September 11, 2026
NEW YORK — A federal judge in New York dismissed investors’ securities fraud class action against a technology company, certain of its employees and the underwriters of the company’s public offerings for allegedly misrepresenting key details about its business in its registration documents, finding that the investors did not plead a material misstatement or omission.
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September 11, 2026
SAN DIEGO — A federal judge in California granted a medical device company and its executives’ motion to dismiss the lead plaintiff’s second amended securities class action complaint, finding that the plaintiff failed to show that the executives’ public statements about the company’s share of the Type 2 diabetes basal prescription market were false or misleading.
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September 11, 2026
CHICAGO — A federal judge in Illinois denied a motion for summary judgment filed by a commodities trader and his company in a Commodity Futures Trading Commission (CFTC) enforcement action alleging that the commodities trader engaged in spoofing schemes to manipulate the soybean futures market in violation of the Commodity Exchange Act, finding that based on the evidence presented, a reasonable jury could conclude that the trader had the requisite intent to be held liable.
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September 11, 2026
NEW YORK — A federal judge in New York dismissed a crypto token compensation suit after finding that plaintiffs failed to state a claim under the only federal law at issue and declining to exercise supplemental jurisdiction over the remaining state law claims. The court held that the plaintiffs’ claim under Section 10(b) of the Securities Exchange Act of 1934 and Securities and Exchange Commission Rule 10b-5 was impermissibly extraterritorial because the alleged securities transaction was not domestic and, alternatively, was so significantly foreign that federal securities laws did not apply.
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September 11, 2026
CINCINNATI — The Federal Home Loan Mortgage Corp. (Freddie Mac) asked the Sixth Circuit U.S. Court of Appeals to rehear its decision reviving a securities fraud suit brought by a pension fund, arguing that the panel improperly vacated the lower court’s denial of class certification and allowed the Ohio Public Employees Retirement System (OPERS) to file a new motion.
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September 10, 2026
NEW YORK — A Second Circuit U.S. Court of Appeals panel vacated a lower court’s dismissal of a securities fraud class action against a failed bank’s officers and auditor, finding that after the bank’s collapse, the succession clause of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) did not transfer the securities fraud claims from investors to the Federal Deposit Insurance Corp. as receiver for the bank.
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September 10, 2026
NEW YORK — A federal judge in New York issued a final order and judgment granting final approval of a $5,875,000 settlement to end investors’ securities fraud class action against a Chinese internet and data center service provider and certain of its former executives.
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September 10, 2026
RICHMOND, Va. — Investors asked the Fourth Circuit U.S. Court of Appeals to rehear its decision to reverse class certification in their securities fraud suit against The Boeing Co. and its former officials over alleged misstatements about the company’s emphasis on safety that artificially inflated the company’s stock price, arguing that the panel’s decision is extreme and will upend class action litigation in the circuit.
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September 10, 2026
NEW YORK — A federal judge in New York dismissed investors’ putative class action against a clinical biopharmaceutical company and certain of its senior officers and board members for making allegedly false and misleading statements about a clinical trial of the company’s flagship product, holding that the investors failed to identify an actionable false statement.
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September 09, 2026
WASHINGTON, D.C. — The Securities and Exchange Commission issued a proposal to rescind a 2010 political contribution rule under the Investment Advisers Act of 1940 after observing that the rule has led to significant unintended consequences and been operationally challenging for investment advisers to implement.
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September 09, 2026
NEW YORK — A New York federal judge granted in part motions to dismiss in investors’ putative class suit alleging that a company that operates skilled nursing facilities used improper Medicare billing practices to inflate revenue, finding that Securities Act claims survive against the company, individual defendants and certain underwriter defendants for financial misstatements but that Exchange Act claims are dismissed without prejudice for failure to plead scienter.
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September 08, 2026
CHICAGO — A federal judge in Illinois granted in part and denied in part a motion to dismiss a cryptocurrency investor’s lawsuit alleging that the operators of a cryptocurrency platform conducted an unauthorized sale of his holdings in order to bolster their own liquidity, holding that the parties’ user agreement gave the operators the ability to delist certain cryptocurrencies from their platform, but not liquidate those cryptocurrency holdings.
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September 08, 2026
WASHINGTON, D.C. — Zillow Group Inc. filed a reply in the U.S. Supreme Court in support of Zillow’s petition for a writ of certiorari, arguing that the court should grant the petition because lower courts wrongly granted and affirmed class certification in a securities fraud case without considering whether Zillow’s back-end disclosures after a drop in its stock price corrected earlier alleged misstatements, saying the reasoning “threatens to make class certification virtually automatic in most securities cases.”
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September 04, 2026
CHICAGO — Investors in an animal health product producer filed a petition for rehearing in the Seventh Circuit U.S. Circuit Court of Appeals, arguing that a Seventh Circuit panel erred in affirming a lower court’s dismissal of their putative securities fraud class action against the producer and two of its executives by misapplying the scienter standard.
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August 28, 2026
NEW ORLEANS — A Fifth Circuit U.S. Court of Appeals panel denied a broker-dealer’s petition for review of the Securities and Exchange Commission’s denial of the broker-dealer’s motion to modify a settlement between the SEC and the broker-dealer, finding that while the settlement the parties entered into was more stringent than later similar settlements, the inequality alone does not make the denial arbitrary and capricious.
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August 28, 2026
WASHINGTON, D.C. — The Securities and Exchange Commission proposed new rules, titled Regulation Crypto Assets, in a new regulatory framework that would, among other things, establish registration exemptions and a conditional safe harbor for certain investment contracts that involve crypto assets.
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August 27, 2026
CINCINNATI — The Sixth Circuit U.S. Court of Appeals found that a lower court erred when it rejected a pension fund’s price-maintenance theory, denied class certification and granted summary judgment to Federal Home Loan Mortgage Corp. (Freddie Mac), reviving the pension fund’s nearly two-decade-long securities fraud suit against Freddie Mac.
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August 27, 2026
PASADENA, Calif. — A Ninth Circuit U.S. Court of Appeals panel affirmed the dismissal of a securities action challenging a technology development company’s merger with another company, holding that the investors did not adequately plead loss causation because the alleged economic harm from shareholders’ purported rejection of the tender offer was too speculative.
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August 27, 2026
BOSTON — A First Circuit U.S. Court of Appeals panel affirmed a lower court’s dismissal of investors’ case against a biopharmaceutical company, holding that investors had no actionable securities fraud claim against the defendants because the company and CEO did not make any materially misleading statements about the findings of two clinical trials for a drug the company was producing.
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August 07, 2026
NEW YORK — A federal judge in New York found that a crypto asset exchange was a statutory seller under Section 12(a)(1) of the Securities Act of 1933 only when it sold tokens from its own inventory but not when it matched customer buy and sell orders, partially resolving a threshold issue in exchange users’ putative class action alleging that the company sold unregistered securities.
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August 07, 2026
RICHMOND, Va. — A Fourth Circuit U.S. Court of Appeals panel reversed a lower court’s decision to certify a class of investors in their suit against The Boeing Co. and its former officials over alleged misstatements about the company’s emphasis on safety that artificially inflated the company’s stock price, finding that the investors did not provide a damages methodology tied to their theory of liability, as required by Comcast Corp. v. Behrend.
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August 07, 2026
TRENTON, N.J. — A federal judge in New Jersey denied a motion to dismiss investors’ putative class complaint alleging that three real estate investment trusts (REITs) and their external advisers and directors misled shareholders through proxy statements that omitted material information about charter amendments delaying liquidation and benefiting the REITs’ controlling executive, finding the omissions to be material.
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August 07, 2026
SAN FRANCISCO — Investors in two related cases filed notices of appeal after a federal judge in California dismissed their claims that Meta Platforms Inc. facilitated pump-and-dump investment schemes advertised on its Facebook and Instagram platforms, ruling in a single order that the claims were barred by the Securities Litigation Uniform Standards Act of 1998 (SLUSA).
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August 07, 2026
CHICAGO — A federal judge in Illinois granted a motion to dismiss fraud claims and claims sounding in fraud filed against an individual defendant and corporate defendant in a case brought by investors alleging that several individuals and two corporate defendants misrepresented the nature and profitability of investment securities involving cryptocurrency and other investments, finding that the investors failed to specify each defendant’s participation in the alleged fraud.
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August 06, 2026
ORLANDO, Fla. — A federal judge in Florida denied a new motion filed by the co-founder of a cryptocurrency foundation company seeking reconsideration of a ruling granting partial summary judgment to investors who sued the co-founder and the company over allegations that they sold the cryptocurrency without filing a registration statement, finding that a joint interpretation regarding the application of federal securities laws to certain types of crypto assets issued by the Securities and Exchange Commission and the Commodity Futures Trading Commission does not constitute an intervening change in law that would call for reconsideration of the order.