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Robert L. Hickok is a partner and former co-chair of the Litigation and Dispute Resolution Department of Pepper Hamilton LLP. He is a past member of the firm's Executive Committee. He can be reached at 215.981.4583 or hickokr@pepperlaw.com... ..Jay A. Dubow is a partner with Pepper Hamilton LLP, resident in the Philadelphia office. He is a member of the firm’s White Collar Litigation and Investigations Practice Group and is co-chair of the Securities and Financial Services Enforcement Group. He can be reached at 215.981.4713 or dubowj@pepperlaw.com... ..Erica Hall Dressler is an associate in Pepper Hamilton LLP’s Trial and Dispute Resolution Practice Group, a seasoned and trial-ready team of advocates who help clients analyze and solve their most emergent and complex problems through negotiation, arbitration and litigation. She can be reached at 215.981.4691 or dresslere@pepperlaw.com. Robert L. Hickok, Jay A. Dubow and Erica Hall Dressler of Pepper Hamilton.

The U.S. Court of Appeals for the Third Circuit recently reiterated the long-standing principles that a defendant’s alleged misrepresentations may be rendered immaterial by a defendant’s sufficient disclosure of information; and even if alleged misrepresentations are materially misleading, a Rule 10b-5 claim may still fail if the allegations do not demonstrate a strong inference of scienter. In Fan v. StoneMor Partners, 927 F.3d 710, 713 (3d Cir. 2019), the Third Circuit affirmed the district court’s decision in which it found that StoneMor, a master limited partnership, sufficiently informed investors of its business practices and granted the defendants’ motion to dismiss a putative securities fraud class action complaint.

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