Category: Cooley wins
Deciding Issue of First Impression, Fourth Circuit Holds Short-Seller Report Could Not Support Loss Causation – in Significant Cooley Win
On April 8, 2025, the US Court of Appeals for the Fourth Circuit affirmed the US District Court for the District of Maryland’s dismissal of all claims in Defeo et al. v. IonQ, Inc. et al., a securities class action asserting violations of § 10(b) and Rule 10(b)(5), § 14(a) […]
In Rare Dismissal of Up-C Reorganization Case, Chancery Court Holds That Claim Is Derivative, Not Direct
On April 10, 2025, the Delaware Court of Chancery granted a motion to dismiss in a breach of fiduciary duty action arising from BGC’s conversion from an Up-C corporation to a traditional full C corporation. While multiple fiduciary duty cases involving Up-C reorganizations have been filed recently in the Delaware Court […]
10th Circuit Rejects Scheme Liability Claim, Finds Presumption of Reliance Rebutted on the Pleadings – A Significant Cooley Win
On October 15, 2024, the US Court of Appeals for the Tenth Circuit affirmed the district court’s dismissal of all claims in In re Overstock Securities Litigation. In doing so, the Tenth Circuit decided an issue of first impression, holding that an open-market transaction must be “accompanied by plausibly alleged […]
Ninth Circuit Affirms Win For Stitch Fix in Securities Class Action
Cooley litigators scored an important win on behalf of Stitch Fix, a company that provides online personal styling services, before the US Court of Appeals for the Ninth Circuit. The win affirmed the 2021 dismissal of a putative class action alleging violations of the Securities Exchange Act of 1934. Lawyers Patrick […]
Cooley Secures Complete Dismissal of Merger Class Action for Senomyx
Cooley secured a complete and significant victory for its clients, the former directors and officers of Senomyx, by obtaining a dismissal of a class action challenging the 2018 acquisition of the company by Swiss fragrance house Firmenich. The San Diego-based Cooley team was led by Peter Adams, Barrett Anderson and Dylan […]
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 […]
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, […]
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 […]
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 […]