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June 01, 2026
LOS ANGELES — A federal judge in California granted final approval to a $250 million settlement in a class action brought by investors alleging that an electric car manufacturer and certain of its executives hid the fact that they knew that the company would be selling its vehicles at a significant loss ahead of its initial public offering.
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May 29, 2026
WASHINGTON, D.C. — In a respondent brief filed in the U.S. Supreme Court, the Securities and Exchange Commissioned urges the court to deny a petition for a writ of certiorari filed by the New Civil Liberties Alliance (NCLA), individuals and other entities who had entered into settlements with the SEC asking the court to determine whether a now-rescinded SEC rule requiring defendants to agree not to publicly deny allegations against them before entering into a settlement with the SEC, known as the Gag Rule, violates the First Amendment. The SEC says the petition is moot because the agency recently repealed the rule.
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May 28, 2026
TAMPA, Fla. — The American Securities Association (ASA) notified a federal court in Florida that it had reached a settlement with the U.S. Securities and Exchange Commission in its suit against the SEC for allegedly violating the Freedom of Information Act (FOIA) by withholding all responsive documents related to the agency’s investigations of broker-dealers that used unauthorized personal devices to communicate with clients during the COVID pandemic.
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May 26, 2026
WASHINGTON, D.C. — The U.S. Supreme Court on May 26 denied a petition for rehearing filed by a man subject to a civil action by the Securities and Exchange Commission asking the court to determine whether federal securities laws allow the SEC and a district court to use the commission’s general equitable authority to order a receivership that will seize every entity owned by a defendant that even slightly benefited from the defendant’s allegedly illegal acts; the Supreme Court had denied the man’s petition for certiorari on March 30.
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May 21, 2026
WASHINGTON, D.C. — The Securities Exchange Commission has rescinded a policy that required defendants that settle enforcement actions with the SEC to agree not to publicly deny the agency’s allegations.
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May 20, 2026
SAN FRANCISCO — A federal judge in California issued an order granting final approval to a settlement to end shareholders’ derivative class action against Wells Fargo & Co. over allegedly discriminatory lending and hiring practices.
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May 18, 2026
NEW ORLEANS — The Fifth Circuit U.S. Court of Appeals on May 15 denied a petition for rehearing en banc filed by Robert Allen Stanford, the criminally convicted leader of a long-running Ponzi scheme, in an enforcement action brought by the Securities and Exchange Commission against Stanford and other scheme participants; the panel had affirmed a lower court’s grant of summary judgment for the SEC, finding no reversible error of fact or law.
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May 18, 2026
WASHINGTON, D.C. — The U.S. Supreme Court on May 18 denied investors’ petition for a writ of certiorari asking the court to determine when an independent accountant can be found liable under Section 11 of the Securities Act of 1933 for a company’s financial statements; a Fifth Circuit U.S. Court of Appeals panel had dismissed the investors’ case against a fuel-cell server manufacturer’s outside accounting, finding that the accountant was not liable under the statute.
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May 08, 2026
SEATTLE — A federal judge in Washington granted in part and denied in part a specialized semiconductor device manufacturer’s motion to dismiss an investor’s putative class action alleging the manufacturer’s executives made false and misleading statements that artificially inflated the company’s stock price, finding that most of the allegedly misleading statements were not protected opinions or puffery.
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May 08, 2026
WASHINGTON, D.C. — The Securities and Exchange Commission proposed rule and form amendments to give public companies the option to file semiannual reports instead of quarterly reports to meet reporting requirements under federal securities laws.
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May 08, 2026
MILWAUKEE — For the second time, a federal judge in Wisconsin granted an energy-related products company’s motion to dismiss securities fraud claims brought by two pension funds, finding that amendments made in an amended complaint to allegations of fraudulent nondisclosure surrounding the company’s COVID-19 pandemic-related gains and subsequent drop did not identify any false statements of material fact.
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May 08, 2026
SANTA ANA, Calif. — A federal judge in California denied a semiconductor company’s motion to dismiss investors’ putative class action against the company and two of its executives for allegedly providing misleading statements about a decrease in the supply of computer components the company provided to Apple Inc., finding the investors plausibly allege material omissions and scienter.
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May 08, 2026
SAN JOSE, Calif. — A federal judge in California granted final approval to a $7.25 million settlement in a case brought by investors against a biopharmaceutical company, certain of its executives and board members for alleged misstatements the defendants made regarding the risks associated with the Phase 3 clinical trial of the company’s lead drug candidate, which led to the company’s stock being artificially inflated.
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May 07, 2026
BOSTON — BJ’s Wholesale Club Holdings Inc. and a pension fund filed a stipulation and proposed dismissal order on May 6 to end the fund’s suit against BJ’s for violations of federal securities law after the fund’s stockholder proposal was included in the company’s 2026 proxy materials as required by a federal judge in Massachusetts.
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May 05, 2026
BOSTON — The First Circuit U.S. Court of Appeals denied a petition for rehearing filed by an employee of a securities firm asking the court to reconsider its decision finding that a lower court did not abuse its discretion in ordering disgorgement and civil penalties against them in an enforcement action brought by the Securities and Exchange Commission for their involvement in a long-running pump-and-dump scheme.
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May 05, 2026
COLUMBUS, Ohio — After the Sixth Circuit U.S. Court of Appeals vacated an order granting class certification and issued a limited remand, an Ohio federal judge issued an order stating the class remains certified in a suit against FirstEnergy Corp. brought by investors regarding a $2 billion bribery scheme, finding that “any question regarding the applicability of the [Basic Inc. v. Levinson] presumption of reliance is beyond the scope of the Sixth Circuit’s limited remand.”
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May 05, 2026
NEW CASTLE, Del. — In a consolidated appeal, the Delaware Supreme Court affirmed a lower court’s decisions dismissing shareholders’ actions challenging boards’ adoption of advance notice bylaws regarding director nominations as defensive and entrenching, finding the cases are currently abstract because no nominations have happened under the challenged provisions.
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May 04, 2026
LOS ANGELES — A federal judge in California dismissed an investor’s class action claims against Caitlyn Jenner and her manager for allegedly selling unregistered securities in violation of federal securities law, finding that the investor failed to establish that the cryptocurrency tokens scheme was a common enterprise.
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May 04, 2026
LOS ANGELES — A federal judge in California granted final approval of a $65 million settlement in a case brought by investors against the company that created Snapchat for allegedly misleading investors when discussing the impact of Apple Inc.’s advertising changes to the company’s revenue.
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April 30, 2026
CHICAGO — A federal judge in Illinois denied a motion for partial reconsideration filed by Walgreens Boots Alliance and several of its current and former executives in a case brought by investors regarding numerous alleged misstatements the company made about Walgreens’ primary care clinic venture; the judge found that an audio recording of one of the remaining misstatements had been available when the motion to dismiss was being briefed.
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April 29, 2026
NEWARK, N.J. — A federal judge in New Jersey granted a data engineering company’s and its current and former executives’ motions to dismiss an investor’s putative class action alleging they violated federal securities laws by providing misstatements about the company’s artificial intelligence capabilities; the judge found that the investor failed to sufficiently plead falsity, scienter or loss causation.
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April 28, 2026
WASHINGTON, D.C. — Investors in an opposition brief ask the U.S. Supreme Court to deny a petition for a writ of certiorari filed by financial services company Robinhood Markets Inc asking it to review the Ninth Circuit U.S. Court of Appeals’ split opinion finding that Section 11 of the Securities Act of 1933 required the company to disclose certain information in its initial public offering (IPO), arguing that “[t]here is nothing radical—or certworthy—about” the Ninth Circuit’s interpretation of the “misleading” prong of Section 11.
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April 27, 2026
GREENBELT, Md.— A pharmaceutical company insured filed a notice appealing a Maryland federal court’s grant of a directors and officers liability insurer’s motion to dismiss its breach of contract and bad faith lawsuit seeking a declaration as to coverage for an underlying antitrust action arising from its acquisition of the rights to distribute a prescription medication used to treat mobility issues in people with advanced Parkinson's disease.
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April 21, 2026
WASHINGTON, D.C. —The U.S. Supreme Court on April 20 heard oral arguments in a case asking it to determine whether the Securities and Exchange Commission may seek equitable disgorgement under federal securities laws without showing that investors suffered pecuniary harm; the SEC and an individual it brought a civil enforcement action against debated the definition and purpose of disgorgement, as well as the proper interpretation of Liu v. SEC.
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April 15, 2026
WASHINGTON, D.C. — In a reply brief to the U.S. Supreme Court, an individual argues that under the high court’s decision in Liu v. SEC¸ “disgorgement is a traditional equitable remedy” and “cannot be used as a punishment or deterrent,” urging the court to find that the Securities and Exchange Act cannot seek disgorgement under the Securities Exchange Act of 1934 without showing pecuniary harm.