Simpson Thacher Attorneys Author Law360 Article on Ninth Circuit Ruling on Securities ‘Solicitation’
06.10.24
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Litigation Partners Jonathan Youngwood, Stephen Blake and Craig Waldman authored an article titled, “9th Circ. Ruling Broadens Sweep Of Securities ‘Solicitation,’” which was published by Law360. The article discussed the Ninth Circuit’s reversal of a dismissal of a putative securities fraud class action, In re Genius Brands Int’l, which had alleged that the company misled investors by representing in a securities purchase agreement that it had not compensated any entity to solicit its securities, when, in fact, it had retained a stock promoter to write and disseminate favorable articles about it. The article further provides takeaways from the decision, noting that companies and their counsel should view "solicitation" broadly in the wake of the ruling.
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