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Gibson Dunn Offers 2022 Year-End Securities Litigation Update

By Craig Varnen, Brian M. Lutz, Monica K. Loseman, Jefferson E. Bell, and Mark H. Mixon, Jr. March 28, 2023 by renholding

Although the number of securities lawsuits filed this year remained steady compared to 2021, we have seen many notable developments in securities law. This year-end update provides an overview of the major developments in federal and state securities litigation since …

Paul Weiss Discusses Second Circuit Ruling on Liability Under Rule 10b-5(a) and (c)

By Geoffrey R. Chepiga, Andrew J. Ehrlich, Walter G. Ricciardi, Kannon K. Shanmugam and Audra J. Soloway August 3, 2022 by renholding

On July 15, 2022, the Second Circuit held[1] in SEC v. Rio Tinto plc,[2] that the Supreme Court’s ruling in Lorenzo v. SEC[3] did not abrogate the rule in the Second Circuit that alleged misrepresentations and …

Gibson Dunn Offers 2021 Year-End Securities Litigation Update

By Craig Varnen, Brian M. Lutz, Monica K. Loseman, Jefferson E. Bell, and Mark H. Mixon, Jr. March 1, 2022 by renholding

Federal securities filings continued to slow during the second half of 2021. The volume of new securities cases filed in 2021 fell by 36% compared to 2020, and 51% compared to 2019. Nonetheless, federal and state securities laws continue to …

Gibson Dunn Updates 2019 Year-End Securities Litigation

By Robert F. Serio, Brian M. Lutz, Monica K. Loseman, Jefferson E. Bell and Mark H. Mixon, Jr. February 26, 2020 by renholding

The number of securities cases filed in federal court continued at a furious pace for the third year in a row. This year-end update highlights what you most need to know in securities litigation trends and developments for the last …

Cleary Gottlieb Offers 2019 Mid-Year Developments in Securities and M&A Litigation

By Roger Cooper, Jared Gerber, Vanessa Richardson and David Wagner August 27, 2019 by renholding

The most significant securities decision to be handed down in the first half of 2019 came from the Supreme Court in Lorenzo v. SEC, which clarified the scope of “scheme liability” under Rule 10b-5(a) and (c). Another significant ruling …

The Supreme Court Misses an Opportunity in Securities Law Enforcement

By Andrew Vollmer July 18, 2019 by renholding

In Lorenzo v. SEC, the U.S. Supreme Court continued the struggle to define the difference between primary liability and aiding and abetting liability in Rule 10b-5 and other securities fraud claims. The difference matters because private plaintiffs do not have …

SEC Chairman Discusses Recent Legal Decisions and the Impact of Data Collection

By Jay Clayton June 7, 2019 by renholding

Thank you, Jeff [Boujoukos], for that kind introduction. I am pleased to have the opportunity to speak with the SEC’s federal and state partners in my home town of Philadelphia. Thank you to the Philadelphia Regional Office for organizing this

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What Justice Kavanaugh’s “Lorenzo” Dissent Means for the Future of Chevron Deference

By Matthew C. Turk and Karen E. Woody November 21, 2018 by renholding

On June 18, 2018, the Supreme Court granted cert in Lorenzo v. Securities and Exchange Commission (Lorenzo), a case that presents significant questions about the federal securities laws. Lorenzo also comes with a twist: The underlying D.C. Circuit decision …

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Columbia Law School's Blog on Corporations and the Capital Markets

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