Bill Lerach gave the best motion to dismiss oral argument I’ve ever seen. Using a stock-price chart with key events and allegations plotted along the alleged class period, he told the complaint’s story with a wooden pointer and his superb narrative skill. Far too often, plaintiffs’ and defense lawyers get bogged down in the nitty-gritty
Safe Harbor
Analysis of Biotech Securities Class Action Motion to Dismiss Decisions, 2005-2022
Five years ago, we surveyed a decade’s worth of federal district court decisions on motions to dismiss securities claims brought against development-stage biotech companies to answer an important question: are these cases more likely to survive a motion to dismiss—and therefore riskier to insure against—than other securities class actions, as D&O insurers have traditionally assumed?…
Is the Reform Act’s Safe Harbor Truly Safe?
By Doug Greene on
Posted in 9th Circuit, de-SPACs, Omnicare, Safe Harbor, SEC, Securities Class Action, SPACs, Statements of Opinion
The most frequent question I’ve been asked about the SEC’s proposed SPAC rules concerns the provision that would make unavailable the Private Securities Litigation Reform Act’s safe harbor for forward-looking statements with respect to de-SPAC transactions: would this change increase the risk that SPACs and de-SPACs face in securities litigation?
Not much. Public companies understandably…