Securities fraud litigation based on regulatory mishaps, environmental disasters, data breaches, sexual harassment revelations, the COVID-19 pandemic and other well-publicized events that affect stock prices has been on the rise in recent years, overtaking more traditional securities claims arising from accounting scandals and corporate fraud.1 Such “event-driven” securities litigation often relies on the theory that a company downplayed or failed to disclose known risks, and thereby inflated the value of its securities, only to see […]

Rule 3 of the Federal Rules of Appellate Procedure (“FRAP”) sets forth the requirements for filing an appeal in federal court. Recently, the U.S. Court of Appeals for the Second Circuit clarified that FRAP Rule 3(c)(1)(A) requires individual named plaintiffs to indicate their intent to appeal, even if members of a putative class, and “not merely rely on a notice of appeal filed by the lead plaintiffs or other persons qualified to represent the […]