Tag Archives: Judge Sand

Judge Castel Rules 10(b) Claims Are Limited to Buyers and Sellers, Even in Injunction Cases

In an opinion dated yesterday, Judge Castel dismissed a suit challenging the proposed merger between a Chilean bank (Itau) and a Brazlian bank (CorpBanca) because the plaintiff, Cartica, was not a “purchaser” or “seller” in relation to the alleged fraud.  It was merely a stockholder. In doing so, he took one side of an issue … Continue Reading

Thomson Reuters’s Dismissal Motion Argues that Dodd-Frank Covers Only Whistleblowers Reporting to SEC

Thomson Reuters today moved to dismiss a whistleblower complaint from a former employee who claimed that he was fired for complaining internally, and to the FBI, that the company’s selective release of certain survey data constituted insider trading. The motion argues that the Dodd-Frank whistleblower protections apply only to those who raise complaints with the SEC, … Continue Reading
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