-
October 29, 2026
WASHINGTON, D.C. — After the federal government urged the U.S. Supreme Court to review a Ninth Circuit U.S. Court of Appeals ruling that investors do not need to show that omitted interim financial information rendered an affirmative statement misleading to state a claim under Section 11(a) of the Securities Act of 1933, a brokerage firm and investors filed competing supplemental briefs disputing whether the appellate court improperly equated material omissions with misleading statements.
-
October 27, 2026
BOSTON — A First Circuit U.S. Court of Appeals panel affirmed a lower court’s denial of an investment firm’s motion for leave to amend its complaint stemming from a biopharmaceutical company’s rights agreement because the firm waited for the outcome of related litigation before asserting a theory that could have been pleaded earlier.
-
October 27, 2026
NEW ORLEANS — A Fifth Circuit U.S. Court of Appeals panel vacated the class certification order in a securities fraud class action against a biopharmaceutical company and certain of its executives, finding that the lower court did not properly assess evidence of market inefficiency.
-
October 22, 2026
NEW YORK — A New York appellate court modified a lower court order to grant summary judgment and dismissed claims against defendants except the original issuers of $228 million in preferred securities whose source of payment was insurance company subsidiaries, finding in part that there is no contractual basis to impose liability on certain successors.
-
October 16, 2026
WASHINGTON, D.C. — A short bill that President Donald J. Trump signed into law on Oct. 15 amends the Employee Retirement Income Security Act to address the much-litigated question of what constitutes “adequate consideration” in employee stock ownership plan (ESOP) transactions.
-
October 09, 2026
CHICAGO — A federal judge in Illinois allowed an investor’s putative securities fraud class action against a social media marketing platform operator and four of its executives to continue, finding that the investor plausibly alleged the defendants made material misstatements about the company’s business operations and future prospects.
-
October 09, 2026
CINCINNATI — A Sixth Circuit U.S. Court of Appeals panel deepened the split regarding whether the Commodity Exchange Act (CEA) preempts states’ regulation of sports-related event contracts that are traded on federally regulated contract markets, holding in two cases heard together that KalshiEX LLC “has not shown that its sports-event contracts satisfy the statutory definition of a ‘swap’ so as to fall within the scope of the CFTC’s exclusive jurisdiction.’"
-
October 09, 2026
WASHINGTON, D.C. — In an amicus curiae brief, federal government urged the U.S. Supreme Court to review a Ninth Circuit U.S. Court of Appeals ruling on Section 11(a) of the Securities Act of 1933, arguing that the appellate court erred in finding the materiality of omitted interim financial information to be sufficient without also determining whether the omission caused an affirmative statement to be misleading.
-
October 09, 2026
NEW YORK — A federal judge in New York granted a motion to dismiss a securities fraud class action brought by investors against a technology company and certain of its executives, finding that the investors failed to allege materially false or misleading statements about the business underlying their claims that the company’s stock price dropped after the company’s financial condition was revealed.
-
October 09, 2026
DETROIT — A federal judge in Michigan denied investors’ motion for partial summary judgment as to their federal and state claims for unregistered offer and sale of securities against a cryptocurrency company for allegedly inducing them to purchase tokens and refusing to hand over the digital tokens the investors purchased, finding that genuine factual disputes precluded a determination that the cryptocurrency company qualified as a statutory seller under federal securities laws.
-
October 08, 2026
NEW YORK — A federal judge in New York granted an investor’s motion for reconsideration of the dismissal of its Securities Act claim against a technology company and certain of its executives and directors but left the dismissal intact after holding that the investor’s acquisition of the company’s securities through an Australian transaction was impermissibly extraterritorial under federal securities law.
-
October 08, 2026
PHILADELPHIA — A Third Circuit U.S. Court of Appeals panel vacated a lower court’s dismissal of investors’ class action alleging that a biotechnology company and its top officer misled investors through certain financial disclosures that when corrected caused the stock’s price to drop, finding that the lower court relied on a categorical materiality rule when dismissing the case after the U.S. Supreme Court held that categorical rules cannot be used in a materiality analysis.
-
October 08, 2026
NEW YORK — A federal judge dismissed shareholders’ second amended putative class action complaint alleging that a software company and two former and current executives misled investors about the success of their turnaround strategy before the company’s stock price dropped when the strategy was found to be unsuccessful, finding that the shareholders’ claims failed to sufficiently plead scienter.
-
October 08, 2026
CINCINNATI — A Sixth Circuit U.S. Court of Appeals panel denied the Federal Home Loan Mortgage Corp.’s (Freddie Mac) petition to rehear its decision reviving a securities fraud suit brought by a pension fund; the panel had vacated the lower court’s denial of class certification and directed the lower court to allow the Ohio Public Employees Retirement System (OPERS) to file a new motion.
-
October 08, 2026
NASHVILLE, Tenn. — A federal judge in Tennessee granted Dollar General Corp. and certain former executives’ motion to dismiss investors’ putative securities fraud class action regarding alleged misstatements made about the staffing and stocking of its stores, finding that the third amended complaint failed to plead facts that would support a strong inference of scienter.
-
October 07, 2026
NEW HAVEN, Conn. — A federal judge in Connecticut denied dismissal of a lead plaintiff retirement fund’s putative class action against Stanley Black & Decker Inc. and three of its former executives for allegedly misleading investors about customer demand for the company’s products and causing the company’s stock price to drop, finding the retirement fund plausibly alleged material misstatements about consumer demand and inventory levels.
-
October 06, 2026
WASHINGTON, D.C. — The Securities and Exchange Commission proposed new rules and amendments to provide a framework for the custody of crypto assets for investment advisers, investment companies and business development companies.
-
October 05, 2026
WASHINGTON, D.C. — The U.S. Supreme Court on Oct. 5 denied Zillow Group Inc. and its executives’ petition for a writ of certiorari arguing that the Ninth Circuit U.S. Court of Appeals applied the wrong standard when it affirmed class certifications in a securities fraud case, choosing not to address what Zillow characterized as a circuit split over rebutting the presumption of reliance at the class-certification stage.
-
October 01, 2026
NEW YORK — A federal judge in New York dismissed pension funds’ putative class action against a clinical development and commercialization services company and certain of its former executives for allegedly making misrepresentations about the profitability of certain pre-spin investment projects and the company’s plans to reduce operational expenses after the company was spun off from another company, finding that the pension funds failed to plead their allegations with the requisite scienter.
-
September 30, 2026
CHICAGO — After denying rehearing, a Seventh Circuit U.S. Court of Appeals panel issued its mandate in a securities case in which it affirmed a lower court’s dismissal of investors’ putative securities fraud class action against an animal health product producer and two of its executives.
-
September 29, 2026
NEW YORK — A federal judge in New York dismissed an investor’s putative securities fraud class action against a global offshore drilling company and certain of executives for alleged misstatements about the readiness of two rigs to conduct operations, finding that the investor’s allegations did not give rise to the requisite strong inference of scienter.
-
September 22, 2026
WASHINGTON, D.C. — The lead plaintiff in an investor class action on Sept. 21 filed with the U.S. Supreme Court its brief in opposition to the petition for a writ of certiorari filed by a digital platform, certain of its executives and directors and the companies that underwrote the platform’s initial public offering (IPO), arguing that none of the three questions presented regarding whether allegedly misleading statements in the digital platform’s public offering documents violated Section 11(a) of the Securities Act of 1933 warrants review.
-
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.
-
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.
-
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.