Labaton Keller Sucharow LLP

Labaton Keller Sucharow wishes you a Happy Thanksgiving. #HappyThanksgiving #Thanksgiving2024

In our latest Investor Alert, Partners Michael Canty and Lauren Ormsbee, along with Associate Charles Stiene, discuss the Supreme Court's dismissal of Facebook's writ of certiorari for review of Item 105 risk factor disclosures— marking its first opinion of the November term.   During the November 6, 2024, oral arguments before SCOTUS, Facebook requested a ruling that Item 105 risk factor disclosures were categorically excluded from liability under federal securities laws when the warned of hypothetical risk had materialized in the past but the harm from the materialized risk had not yet been publicly realized or acknowledged. On November 22, 2024, the Justices ruled that Facebook’s petition for certiorari should not have been granted, dismissing the appeal as “improvidently granted.” “This Supreme Court order is a victory not only for investors but also for lower courts tasked with assessing a complaint’s allegations on a case-by-case basis,” the alert notes.  https://lnkd.in/ett9xdtD #InvestorAlert #SCOTUS #Securities #Facebook

Labaton Keller Sucharow has been appointed to serve as lead counsel in a securities class action against PDD Holdings Inc., f/k/a Pinduoduo Inc. The suit alleges that PDD Holdings, which operates online marketplaces Pinduoduo and Temu and allows Chinese merchants to sell to consumers worldwide, misled investors about the sustainability of its revenue growth, its failure to prevent goods made by forced labor from being sold, and the risks of bad merchant and customer relationships. Further, the Company’s 2020 Annual Report allegedly contained materially false and misleading statements about risks to its brand and reputation related to its improper use of data, its failure to protect confidential information, and scrutiny of the Company. Learn more here: https://lnkd.in/gfKADRTr

Bloomberg Law followed up with Partner Lauren Ormsbee after SCOTUS heard oral arguments last week in the securities fraud case NVIDIA Corp. v. E. Ohman J: or Fonder AB. In the article, “Justices May Bypass Clarity in NVIDIA’s Pleading Test Request,” she shares her thoughts on the current pleading standard and Nvidia’s challenge to it. Nvidia challenged investors’ use of internal company documents (where they lack content descriptions) and expert reports under the standard to plead “with particularity” established by the Private Securities Litigation Reform Act (PSLRA) of 1995. Read more here: https://lnkd.in/ezSDYR8g #SCOTUS #Securities #Litigation #PSLRA #NVIDIA

On Monday, November 18, 2024, Partner Michael Canty will moderate the panel “Synergy in Action: Collaborative Dynamics between Data Security, Data Privacy, and Information Governance Teams” at Corporate Counsel's General Counsel Conference East. Attendees will learn why their organizations need seamless collaboration between data security, data privacy, information governance, and legal teams to ensure compliance with regulations like the GDPR, CCPA, and other consumer protection laws. The panel will explore resources to develop comprehensive compliance frameworks and discuss strategic oversight responsibilities to ensure consumer data rights are protected. The General Counsel Conference East is a premier legal event designed for general counsel, legal executives, and other industry professionals. It aims to help shape the future of legal leadership through first-hand insights of shared experience and practical takeaways. Read more here: https://lnkd.in/evBeW63V #GDPR #CCPA #ConsumerProtection #DataPrivacy

"On this Veterans Day, we pause to honor the brave men and women who have served in the armed forces. Their courage, sacrifice, and unwavering commitment to our country, families, and communities deserve our deepest respect and gratitude. My experience in the Army Reserves has played a pivotal role in shaping my perspective as a lawyer. The demands of the military instilled in me a keen sense of discipline, attention to detail, and an unwavering commitment to uphold a code of ethics and integrity—values that are crucial in the legal profession and at Labaton. The constant push to perform under pressure at the highest level taught me to approach my work with similar rigor and helped me develop a resilience that I rely on every day. I take pride in the fact that my service continues to shape my work and my commitment to our clients at Labaton.” -Wesley Mann, Associate

After SCOTUS heard oral arguments this week in securities fraud case Facebook, Inc. v. Amalgamated Bank, Bloomberg Law followed up with Partner Michael Canty for its article "Meta Case Leads Justices to Ponder Further Role for SEC on Risks.” Read his thoughts on SCOTUS’s approach to the question of companies’ risk disclosure requirements and its suggestion that the SEC could refine risk disclosure requirements through regulations. https://lnkd.in/e8B6Tisa #SCOTUS #securities #litigation #Meta #Facebook

Visit Labaton Keller Sucharow at booth 131 at International Foundation of Employee Benefit Plans (IFEBP)’s 70th Annual Employee Benefits Conference and learn how the Firm is a driving force in helping public pension funds monitor their portfolios and recover assets lost to securities fraud.   Labaton is proud to support IFEBP at their annual conference held November 10-13, 2024, in San Diego. The interactive conference offers attendees over 120 educational sessions led by distinguished thought leaders and opportunities to talk with experts, network with peers, and learn how to make the most informed decisions on behalf of their funds.    https://lnkd.in/eTKVnvft   #securities #litigation #portfoliomonitoring #pensions

On Friday, November 8, 2024, Partner Carol Villegas will moderate the panel “The Impact of the Overturning of Chevron on Regulatory Rulemaking” at the Institute for Law and Economic Policy (ILEP) Symposium "Gatekeeping in a Post-Chevron World."   Labaton Keller Sucharow is proud to support ILEP. Our namesake Partner, Edward Labaton, cofounded ILEP in 1996. ILEP is a leading research and educational foundation dedicated to enhancing investor and consumer access to the civil justice system.   #ILEP #Chevron

Read Bloomberg Law’s interview with Partner Michael Canty: "Meta, Nvidia Bring Investor Suits' Starting Gate to High Court." Mike explains the importance to investors of risk disclosure claims and expert evidence during the early stages of securities fraud class actions—two requirements to survive a defense dismissal bid that SCOTUS is considering this month.   https://lnkd.in/eUU_aJsP   #SCOTUS #securities #litigation #Nvidia #Facebook