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November 06, 2026
SAN DIEGO — A federal judge in California dismissed with prejudice a buyer’s securities fraud claim against the former owner of a telecommunications business and the brokers involved in the sale, finding that the buyer did not adequately plead falsity, scienter and loss causation as to the former owner and scienter as to the brokers.
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November 06, 2026
OAKLAND, Calif. — A federal judge in California gave final approval to a $69 million settlement that ends a securities fraud class action brought by investors alleging that a biopharmaceutical company and its CEO made false statements about the safety, efficacy and application for U.S. Food and Drug Administration approval of its proprietary vasculitis drug.
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November 06, 2026
PHILADELPHIA — A federal judge in Pennsylvania dismissed investors’ securities fraud complaint against a cryptocurrency exchange platform operator and certain of its executives, finding that the investors failed to adequately plead scienter and loss causation for claims concerning statements about regulatory compliance, verified-user metrics and cybersecurity.
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November 06, 2026
NEW YORK — A Second Circuit U.S. Court of Appeals panel affirmed dismissal of an entrepreneur’s civil Racketeer Influenced and Corrupt Organizations Act (RICO) claims against his securities broker, holding that the alleged conduct would have been actionable as securities fraud and therefore was barred from serving as the basis for civil RICO claims under the Private Securities Litigation Reform Act of 1995 (PSLRA).
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November 05, 2026
SEATTLE — After the U.S. Supreme Court denied Zillow Group Inc. and its executives’ petition for a writ of certiorari regarding certification of a securities fraud class action over alleged misstatements about improvements to Zillow’s pricing model, the investor’s class counsel announced that the parties had reached a proposed $212.5 million settlement.
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November 05, 2026
DENVER — A 10th Circuit U.S. Court of Appeals panel affirmed a lower court’s decision to grant a preliminary injunction and freeze the assets of a pharmaceuticals company, its affiliates and principals, finding that the Securities and Exchange Commission’s request for the preliminary injunction satisfied the necessary preliminary injunction factors.
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November 04, 2026
PHILADELPHIA — The Third Circuit U.S. Court of Appeals denied a biotechnology company and its top officer’s petition for rehearing or rehearing en banc of a decision vacating the dismissal of investors’ class action alleging that misleading financial disclosures caused investment losses when corrected. In its earlier decision, the panel held that the lower court improperly relied on a categorical materiality rule inconsistent with U.S. Supreme Court precedent.
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November 04, 2026
SAN FRANCISCO — A California federal judge granted final approval of a $47.75 million settlement to end a securities class action alleging that Hawaiian Electric Industries Inc. (HEI) and certain executives inflated the company’s stock price by misleading investors about its efforts to mitigate wild fire risk before the August 2023 Maui fires but cut the amount of requested attorney fees from 30% of the fund to 20% after finding problems with the counsel’s billing.
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November 03, 2026
NEW YORK — Pension funds appealed to the Second Circuit U.S. Court of Appeals a federal judge’s dismissal of their putative securities fraud class action against a clinical development and commercialization services company and certain of its former executives for allegedly misrepresenting the profitability of contracts awarded before the company was spun off from another company and its plans to reduce operational expenses.
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November 02, 2026
RICHMOND, Va. — The Fourth Circuit U.S. Court of Appeals denied a request from investors to rehear the court’s 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.
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November 02, 2026
TYLER, Texas — In a pair of rulings in a securities case involving promotion of fracking and COVID-19 virus products, a federal magistrate judge granted a motion for reconsideration, vacating a ruling after he was told he erroneously found that a party failed to respond to a motion to quash a third-party subpoena. Meanwhile, the judge in the case said that going forward all parties must certify whether they used artificial intelligence in drafting filings and that the court may ignore anything not generated by a human.
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October 30, 2026
NEW YORK — Two pension funds filed a securities class action against a Bermuda-based insurance and reinsurance company and four executives in New York federal court, alleging that they misled investors about the adequacy of the company’s casualty loss reserves, concealed risks associated with its underwriting practices and overstated earnings, resulting in investor and shareholder losses.
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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.
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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.
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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.
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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.
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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.
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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.
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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.’"
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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.
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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.
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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.
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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.
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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.
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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.