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May 03, 2024 | New Jersey Law Journal

En Banc Panel Adopts New Appellate Standard: Shareholder Suit Dismissed Against Cognizant

Cognizant agreed to pay $25 million to the U.S. Securities and Exchange Commission in 2019 to settle charges that the payments it made to Indian government officials violated the Foreign Corrupt Practices Act.
4 minute read
April 30, 2024 | National Law Journal

'Perplexing': 6th Circuit Judge Criticizes High Bar for Securities Lawsuits

"Hopefully, a future panel of this Court, or the Supreme Court, can clarify the law along the lines described here, so that the majority's untenable views are not sustained," Judge Eric Clay wrote.
3 minute read
April 26, 2024 | The Recorder

Leadership War Breaks Out in 23andMe Data Breach Case 'at the Crossroads'

Lawyers ramped up their fight over how to manage the 23andMe Inc. data breach litigation, disagreeing on everything from whether to immediately settle the cases to handling class members who are "truly frightened."
6 minute read
April 03, 2024 | Daily Business Review

Yacht Broker Says It 'Has Done Nothing Wrong.' Asks Miami Court to Dismiss the Case

"there is no scheme, no contract, no combination, nor a conspiracy," said one defendant of the antitrust litigation.
5 minute read
April 01, 2024 | Delaware Business Court Insider

Uber's 'Superficial Safety Efforts' Called Out in Derivative Suit

The lawsuit alleges that if Uber's board members and executives had made a point to implement safety measures like screening drivers more carefully, the company might not now be facing liability in the hundreds of cases in which riders, primarily women, say they were sexually assaulted.
3 minute read
March 29, 2024 | Daily Business Review

These South Florida Yacht Brokers May Need Representation as Antitrust Class Surfaces

"Because this is such a big case, ... we expect other suits to follow," said Ricardo Martinez-Cid, of Miami's Podhurst Oreck.
5 minute read
March 28, 2024 | The Recorder

9th Circuit Rejects Securities Allegations Against Biotech Company's COVID-19 'Cure' Claim

"It seems likely that the bump in the price of Sorrento's stock in the week of May 15 provided it with more revenue from its agreement with Anarki to purchase stock, but Zenoff does not allege any particular improper or inflated sales. Indeed, as defendants note, Zenoff identifies no individual stock sales at all," Judge Consuelo Callahan wrote on behalf of the court.
5 minute read