L&K Insights

On December 5, 2023, a three-judge panel in In re Facebook, Inc. Sec. Litig., 87 F.4th 934 (9th Cir. 2023) (“In re Facebook”) voted to deny the defendant appellee Facebook, Inc.’s (“Facebook”) petition for panel rehearing and rehearing en banc of the Ninth Circuit’s October 18, 2023 ruling reversing the dismissal of claims against Facebook....

On Jan. 15, the American Arbitration Association amended its mass arbitration supplementary rules and implemented a new consumer mass arbitration and mediation fee schedule. In its press release announcing the updated rules and fees, the AAA stated that it “listened to the needs of the individuals and business involved in mass arbitrations” and articulated that...

In a recent class action suit pending in the U.S. District Court for the Southern District of Texas, Magistrate Judge Andrew Edison recommended the denial of class certification, finding the plaintiffs lacked standing to assert claims under Section 14(a) of the Securities Exchange Act of 1934 in connection with the defendants’ alleged false statements in...