Litigators at Skadden, Arps, Slate, Meagher & Flom racked up four wins in two days last week, knocking out securities class actions on both coasts plus annihilating an unlikely claim against a South Korean bank.
Partners Scott Musoff and Robert Fumerton and associate Michael Griffin won dismissal of a securities class action in the Southern District of New York against TAL Education Group, a China-based after-school tutoring company. In tossing the case on Sept. 25, U.S. District Judge Loretta Preska found there was no misstatement regarding the two supposed “sham” transactions and admonished the plaintiffs for circular reasoning, selectively quoting, burden shifting and trying to “have their cake and eat it too.”
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