Southern District of New York Grants Dismissal of Securities Litigation Against Riskified and its Underwriters
06.05.23
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On June 2, 2023, the United States District Court for the Southern District of New York granted a motion to dismiss a putative securities class action against Riskified Ltd. (“Riskified”), its officers and directors, and several underwriters, siding with the Defendants on the grounds that the Plaintiffs failed to state a claim under securities laws. Simpson Thacher represented the underwriters in this matter. In May 2022, shareholders filed a putative securities class action alleging violations of the Securities Act in connection with the company’s registration statement for its July 2021 IPO. Plaintiffs subsequently filed an amended complaint, which District Judge Denise L. Cote dismissed.
The Simpson Thacher team includes Jonathan Youngwood, Craig Waldman and Nicole Palmadesso.