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On The Case Headlines

Appraisal litigation after Aruba? It’s still a bad bet for shareholders

For hedge funds specializing in appraisal litigation – in which shareholders refuse to tender their shares of a target company to the acquirer and instead ask a judge to set a fair value for their stake – there was good news and bad news in Tuesday’s extraordinary opinion from the Delaware Supreme Court in Verition Partners v. Aruba Networks.

Justices seem split on whether to consider private right to sue over tender offers

At oral arguments Monday at the U.S. Supreme Court in Emulex v. Varjabedian, the big question was whether the justices will use the case to decide if private investors have a right to sue over allegedly misleading tender offer disclosures. Will the court consider the big issue? Or will the justices hew to the much narrower question of the proper pleading standard for shareholder claims?

Revenge of the robocall recipients: Jury finds marketer ViSalus liable for 1.8 million calls

The key moment in a three-day class action trial accusing the nutritional supplement marketer ViSalus of violating the Telephone Consumer Protection Act came early, according to Greg Dovel of Dovel & Luner, whose firm led the trial for the class. As the second witness to testify, named plaintiff Lori Wakefield, who signed up in 2012 to sell ViSalus products but quickly ended her affiliation with the company, told jurors last week that she had received four automated calls from ViSalus on her hom

Judge-shopping in ‘Varsity Blues’ case?

Defense lawyers representing parents facing conspiracy, fraud and money-laundering charges in the ‘Varsity Blues’ college admissions scandal sent a remarkable letter Tuesday to U.S. District Judge Patti Saris of Boston, chief judge of the district where the parents will be tried.

Judge in Tezos class action picks new lead without reopening selection process

For the second time in a week, the judge presiding over a securities class action has picked a new investor to take over a case in which the court-appointed lead plaintiff sought to withdraw for personal reasons. On Monday, U.S. District Judge Richard Seeborg of San Francisco ruled that a previously passed-over candidate will now be in charge of a class action claiming that the backers of the $230 million Tezos cryptocurrency offering were selling unregistered securities, replacing a

After lead plaintiff turmoil Kessler Topaz keeps control of Snap class action

U.S. District Judge Stephen Wilson of Los Angeles ruled Tuesday that a group of Snap investors should serve as the lead plaintiff in a securities class action claiming the company failed to disclose discouraging user data in advance of its March 2017 IPO. The judge picked the coalition of five shareholders over two candidates with bigger losses, including the New Mexico State Investment Council. His ruling means that Kessler Topaz Meltzer & Check, which represents the newly appointed

In census and Obamacare amicus briefs, Big Law sides against Trump

Monday was a momentous day for appellate litigators, with amicus brief deadlines in two momentous cases: the U.S. Supreme Court's review of the Trump administration’s decision to add a question about citizenship to the 2020 census; and a 5th U.S. Circuit Court of Appeals case in which Texas and other states, with the backing of the Justice Department, are defending a lower-court ruling that the Affordable Care Act is unconstitutional. Twenty of the biggest law firms in the country si

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In divided America, Mueller report hardens the most strident

After months as volunteer activists demanding that President Donald Trump be impeached, Eileen and Michael O'Brien sat on their couch on Thursday, cracked open a laptop and began to read the 448-page special counsel report that liberals have dreamed would make impeachment a reality.