Securities and Derivative Litigation: Quarterly Update
With just one quarter remaining in 2023, securities and derivative litigation continues to develop with new standards being articulated or clarified, particularly by decisions within the Second Circuit: The Second Circuit provided additional guidance regarding when statements of opinion may nevertheless be actionable; and In Goldman, the Second Circuit instructed the district court to decertify a […]
Posted by Joni Jacobsen, Stuart Steinberg, and Melanie MacKay, Dechert LLP, on Saturday, December 16, 2023
Editor's Note:
Joni Jacobsen, Stuart Steinberg, and Melanie MacKay are Partners at Dechert LLP. This post is based on a Dechert memorandum by Ms. Jacobsen, Mr. Steinberg, Ms. MacKay, Vince Montoya-Armanios, and Vishan J. Patel.
With just one quarter remaining in 2023, securities and derivative litigation continues to develop with new standards being articulated or clarified, particularly by decisions within the Second Circuit:
- The Second Circuit provided additional guidance regarding when statements of opinion may nevertheless be actionable; and
- In Goldman, the Second Circuit instructed the district court to decertify a class thereby highlighting the need for a searching analysis of any mismatch between a generic alleged misrepresentation and a specific corrective disclosure at the class certification stage.
