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Tag Archives: Securities

Securities claims can’t be based on puffery, boasting (access required)

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 ...

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Arbitration panel sides with claimant in securities action case — $794,432 verdict (access required)

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: ...

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Lack of scienter dooms fraud claims (access required)

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 ...

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Investment choices were mistakes, not fraud (access required)

Where a company that provided mezzanine financing made poor investment choices in 2014 and 2015, plaintiffs failed to show its contemporaneous statements were made with the required scienter and their securities fraud class action was dismissed. Background LifeWise Family Financial ...

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Investors sue over failure to disclose anticompetitive conduct (access required)

Allegations that a doorskin manufacturer made representations about its pricing strategy, without disclosing its anticompetitive conduct that led to those continuing revenues, were sufficient to state a claim for violations of the securities laws. Background In this putative class action, ...

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Novel issues not certified for interlocutory appeal (access required)

Although a prior order in a securities class action resolved issues of first impression, they were not “controlling” and thus not certified for immediate interlocutory appeal. Background By order dated Feb. 25, 2020, the court denied the motion to certify ...

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