Case Name: Pension Funds v. Goldman Sachs Group
Court: U.S. Ct. App. 2d Cir. Docket: 16-250-cv
Read AARP's Amicus Brief (PDF)
Case Issue: In a securities fraud action, can investors rely on an investment management firm's public statements that the firm has extensive procedures to prevent conflicts of interests, or are those statements immaterial "puffery"?
Case Name: People, State of New York v. Greenberg
Court: N.Y. Ct. App. Docket: APL-2015-00172
Case Result: The court confirmed that New York's Martin Act authorizes disgorgement and rejected the defendants' preemption challenge to a disgorgement remedy. The court also confirmed that a permanent injunction under state antifraud statutes does not require proof of irreparable harm.
Case Name: Merrill Lynch v. Manning
Court: U.S. Supreme Court Docket: 14-1132
Case Result: The decision resolves a split among the circuits regarding the breadth of Section 27 of the Securities Act. The Court ruled that a defrauded securities investor was entitled to sue in state court for state claims.
Case Name: Omnicare v. Laborers Dist. Council Constr. Indus.Pension Fund
Court: U.S. Supreme Court Docket: 13-435
Case Result: Securities issuers may be liable for statements of opinions in their registration statements if they omit a fact relevant to the opinion and disclosure of the omitted fact, and it is necessary to make the statement not misleading to a reasonable investor.
Case Name: Chadbourne & Parke LLP v. Troice
Court: U.S. Supreme Court Docket: 12-79, 12-86, 12-88
Case Issue: Do either the federal Securities Litigation Uniform Standards Act (SLUSA) or the Private Securities Litigation Reform Act (PSLRA) preclude or preempt private remedies under state law for alleged fraudulent acts involving securities not covered under either federal act?
Case Name: People of the State of New York v. Greenberg
Court: N.Y. Ct. App. Docket: 401720/05
Case Result: AG allowed to seek equitable/injunctive relief against two former corporate officers for their roles in alleged fraudulent activity.
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