All posts by Cooley

SEC’s Proposed Rules Highlight Continued Focus on Cybersecurity

On March 9, 2022, the Securities and Exchange Commission (“SEC”) proposed new rules which, if adopted, would require public companies to promptly disclose material cybersecurity incidents and, more generally, to provide more detailed disclosures regarding cybersecurity risk management, strategy, and governance practices. The rules – the latest in a series […]

Ninth Circuit Affirms Dismissal of Securities Class Action Against Qualcomm

Cooley litigators secured a win on behalf of Qualcomm, a San Diego based technology company that specializes in semiconductors, in a securities class action filed in the United States District Court for the Southern District of California. The cross-functional team for the Ninth Circuit appeal brought together members of Cooley’s […]

Delaware Finds Stockholder Claims Against SPAC Fiduciaries Subject to Entire Fairness Review

As SPAC IPOs broke records – in both value and volume – in 2020 (and again in 2021), it was inevitable that stockholder litigation would follow. More than 50% of the SPACs that went public in 2020 and 2021 are incorporated in Delaware, giving particular significance to SPAC litigation filed […]

Cooley Secures Dismissal of Securities Class Action for Fastly

Cooley litigators locked in a win on behalf of Fastly, a cloud platform that processes data for thousands of companies around the world, its CEO, and former CFO, in a securities class action filed in the United States District Court for the Northern District of California. The diverse Cooley team, […]

Whistleblower Complaints and Rewards Explode Worldwide

What you need to know Since the onset of the COVID-19 pandemic, the number of whistleblower complaints received by regulators has exploded on both sides of the Atlantic. On November 15, 2021, the US Securities and Exchange Commission (SEC) reported that it paid out more in whistleblower awards in fiscal […]

Meredith Defeats Securities Class Action in Eighth Circuit

Cooley litigators secured a victory in the US Court of Appeals for the Eighth Circuit for long-time client Meredith Corporation and four of its senior executives in a securities class action filed by a group of investors over projections about its integration of Time Inc. The cross-department and cross-practice team […]

Cooley Secures Complete Dismissal of Securities Enforcement Action for Accelerated Assets

Cooley litigators secured a win on behalf of Accelerated Assets, an investment firm that is focused on the acquisition, development, sale and financing of timeshare assets, and two other entities, SS Purchco and Pahrump Valley Real Estate, obtaining a complete dismissal of all claims against the companies in the San […]

SEC Enforcement Director Sets Aggressive Tone

Gurbir Grewal, the recently-appointed Director of the Securities and Exchange Commission’s Division of Enforcement, comes from a law enforcement background.  Before joining the SEC, he served as New Jersey Attorney General, where he presided over cases against prominent companies alleging violations of state environmental law.  Before that, he served as […]

Ninth Circuit Rejects ‘Direct Listing’ Carve-Out from Securities Act Liability

On September 20, 2021, the United States Court of Appeals for the Ninth Circuit issued its much anticipated decision in Pirani v. Slack Technologies, Inc., which raised the novel question (a question of first impression, according to the panel) of whether shareholders lack standing to sue under Sections 11 and […]

Cooley Secures Dismissal of Securities Class Action for Overstock

Cooley litigators locked in a win on behalf Overstock, a company that provides online retail, securing a dismissal on behalf of the company and two of its executives in a securities class action in the US District Court for the District of Utah. Cooley lawyers Christopher Vail, Heather Speers, Jeff […]