Where plaintiffs suing a biopharmaceutical company for alleged misstatements failed to sufficiently allege any actionable misrepresentations or omissions that would give rise to a duty to disclose, and certain statements amounted to puffery or inactionable opinion or were sufficiently hedged ...

Tagged with: 4th U.S. Circuit Court of Appeals Judge Roger L. Gregory Securities

Where the district court granted a man’s motion for judgment after concluding there was insufficient evidence that he received the insider information at the time he began trading in a company’s stock, it erred. Background The Securities and Exchange Commission ...

Tagged with: 4th U.S. Circuit Court of Appeals Judge A. Marvin Quattlebaum Jr. Securities

Where a man sued by his estranged wife for allegedly breaching his fiduciary duties and converting property belonging to their joint business argued the wife lacked standing because she wasn’t a shareholder of the company, but it was disputed whether ...

Tagged with: Judge James P. Jones Securities U.S. District Court - Western District

Where a company offered no quantitative metrics, qualitative comparisons or other specifics to bolster its claims of “competency” and “flexibility,” those boasts reflected the natural role that puffery can play in contract formation and did not support a claim for ...

Tagged with: 4th U.S. Circuit Court of Appeals Judge J. Harvie Wilkinson III Securities

Where a partner in a Richmond real estate development allegedly engaged in multiple acts of bank fraud, money laundering and fraud, individually or through his controlled entities, that plausibly establish a “pattern of racketeering activity.” As such, his motion to ...

Tagged with: Judge David J. Novak Securities U.S. District Court - Eastern District

Where a shareholder alleged a company CEO made misrepresentations, false statements and omissions in order to procure a merger with another company, its claims under § 10(b) and Rule 10b-5 of the Securities Exchange Act, under § 12(2) of the ...

Tagged with: Judge Robert E. Payne Securities U.S. District Court - Eastern District

Where a customer who suffered the most financial losses as a result of allegedly false and misleading securities statements moved to be appointed as lead plaintiff, his motion was granted. Although some of his losses were as a result of ...

Tagged with: Judge Rossie D. Alston Jr. Securities U.S. District Court - Eastern District

Type of action: FINRA securities action/unsuitable investment/churning Injuries alleged: Economic losses of approximately $400,000 Name of case: Haley v. WestPark Capital Court: Financial Industry Regulatory Authority (FINRA) Case no.: 20-00320 Tried before: FINRA arbitration panel Name of judge or mediator: ...

Tagged with: Arbitration Securities Verdict

Where shareholders alleged they purchased shares of a technology company at inflated prices because corporate officers made materially misleading statements about the company’s financial health, their suit was dismissed because there was insufficient evidence of scienter. Background Plaintiffs appeal the ...

Tagged with: 4th U.S. Circuit Court of Appeals Judge James A. Wynn Jr. Securities

Where investors alleged JUUL and Altria engaged in a scheme to allow the continued marketing of e-cigarettes to minors while publicly denying JUUL’s intention of targeting youths in an effort to avoid further litigation or regulation that could curb its ...

Tagged with: Judge David J. Novak Securities U.S. District Court - Eastern District