Category: ’33 Act

In re Nektar Therapeutics: Ninth Circuit Affirms Dismissal of Securities Class Action Arising from Failure of Clinical Drug Trial  

Summary On May 19, 2022, a panel of the Ninth Circuit unanimously affirmed the district court’s dismissal of a putative securities fraud class action accusing Nektar Therapeutics and several of its executives of misleading investors about the results of a clinical drug trial. The court held that even if Nektar […]

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 […]