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Paul, Weiss is widely recognized as having one of the nation’s preeminent securities litigation and regulatory practices. For two decades, our lawyers have guided global corporations and financial institutions through a series of “bet-the-company” securities-related crises, consistently reducing or eliminating their most damaging claims and negotiating favorable resolutions.
As an update to our earlier alert, “Mitigating Securities Litigation Risks Related to the Coronavirus,” we look at key takeaways from the first two securities fraud class action filings related to COVID-19 disclosures and outline additional steps companies can take to mitigate the risks associated with COVID-19-linked shareholder litigation.
Paul, Weiss won a complete defense victory for ExxonMobil in the first climate-change case to be tried to a verdict.
SEC Charges Company with COVID-19-Related Securities Fraud, Reaffirming its Focus on Public Statements and Disclosures Relating to COVID-19
The SEC recently brought its first enforcement action arising out of the COVID-19 pandemic. The action reaffirms the Commission’s laser focus on companies’ statements concerning, and responses to, the pandemic.
Federal District Court Determines That Pharmaceutical Company Has No Standalone Obligation to Disclose Interim FDA Feedback on Form 483
A federal district court dismissed a putative securities class action lawsuit against Nabriva Therapeutics and several of its officers alleging that the company had fraudulently misled investors about its prospects for getting FDA approval for its new drug, CONTEPO.
Magistrate Judge Recommends Dismissal of Securities Claims Against Vince Holding Corporation and Sun Capital Partners
Paul, Weiss secured a victory for luxury apparel company Vince Holding Corporation, certain current and former officers and directors, and its majority owner Sun Capital Partners in a pair of securities class actions.
Paul, Weiss secured the dismissal of a putative securities class action brought against our clients Telefonaktiebolaget LM Ericsson and various Ericsson executives relating to Ericsson’s accounting for various long-term service contracts.
Paul, Weiss Wins Dismissal of Securities Claims Against CBS Lead Independent Director Arising From Former CEO’s Alleged Sexual Misconduct
Paul, Weiss secured a major victory for Bruce Gordon, the former lead independent director of the board of CBS Corporation, in a putative securities class action arising from former CEO and Chairman Leslie Moonves’ and others’ sexual misconduct.
The spread of coronavirus has disrupted global businesses and triggered severe U.S. stock market declines. These events raise the risk that shareholders will convert these stock drops into litigation. We address the securities litigation risks and suggest steps companies may decide to take to mitigate these risks.
Paul, Weiss secured the dismissal, with prejudice, of a putative securities class action brought against our client Oaktree Capital Management, L.P. relating to Oaktree’s investment in Tribune Media Company.
Paul, Weiss achieved another victory for Pretium Resources Inc. and two executives when the U.S. District Court for the Southern District of New York denied plaintiffs’ motion for leave to amend their complaint following dismissal of a securities class action alleging that Pretium had defrauded investors.
In CalPERS v. ANZ Securities, the Supreme Court ruled that the filing of a class action does not toll the Securities Act’s three-year statute of repose.
Paul, Weiss secured the dismissal of a putative securities class action against our client Meridian Bioscience, an Ohio-based life science company.