Simpson Thacher Wins Dismissal Of Securities Class Action Lawsuit
04.02.15
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On March 31, 2015, the U.S. District Court for the District Of Colorado granted a motion to dismiss a purported securities class action lawsuit filed against, among other defendants, a group of securities underwriters represented by Simpson Thacher. The Plaintiffs alleged that the underwriters made false and misleading statements in connection with the issuance of securities for Molycorp. Inc. The Court dismissed the complaint in its entirety holding that statements in the securities offering documents were not materially false or misleading and furthermore that certain of the statements were otherwise protected under statutory “safe harbor” provisions. The Simpson Thacher team included retired Litigation Partner Bruce Angiolillo, Litigation Partner Jonathan Youngwood and Litigation Associate Mike Castiglione.