Simpson Thacher Attorneys Author Article on Second Circuit Ruling on Short-Swing Claims
08.16.24
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Litigation Partners Stephen Blake, Craig Waldman and Jonathan Youngwood authored an article titled, “2nd Circ. Ruling Reaffirms Short-Swing Claims Have Standing,” which was published by Law360. The article discussed the U.S. Court of Appeals for the Second Circuit’s recent decision in Packer v. Raging Capital Management, which reversed the U.S. District Court for the Eastern District of New York's dismissal of a shareholder's Section 16(b) derivative suit seeking to recover so-called short-swing profits for a lack of constitutional standing. The article further provided key takeaways from the ruling, including how the Second Circuit has made clear that plaintiffs seeking relief for being deprived of short-swing profits under Section 16(b) have suffered an injury sufficiently concrete to confer constitutional standing.
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