matthew d. Berkowitz - The Class Action Blog by Carr Maloney PC

Supreme Court Declines to Consider New Pleading Standard for Securities Fraud Claims

On December 11, 2024, the Supreme Court dismissed NVIDIA Corporation’s appeal, allowing a class action securities fraud case to move forward towards trial.

The Plaintiffs originally brought the case in the United States District Court for the Northern District of California, alleging that during the class period May 10, 2017, through November 14, 2018, NVIDIA’s executives knowingly or recklessly made false or misleading statements to their investors by downplaying the potential effects that crypto mining or crypto currency sales would have on their gaming revenue. More specifically, the Plaintiffs alleged that 1) NVIDIA’s executives had knowledge that […]

23andMe Reaches Proposed Settlement in Data Breach Class Action

In November 2023, a class action lawsuit was filed against the genetic testing company, 23andMe. The plaintiffs alleged that a data breach resulted in the unauthorized disclosure of 6.9 million users’ personal and genetic information, including their names, contact information, ancestry reports, and DNA matches. Despite the fact that the breach began in April 2023 and lasted several months, the plaintiffs alleged that 23andMe failed to warn its users of the breach until October 2023 thereby causing further harm.

Although the parties began the arbitration process, the parties asked the US District Court for the Northern District […]