Faruqi & Faruqi LLP - newshttp://www.faruqilaw.com/newsFaruqi & Faruqi LLP - newsNinth Circuit Lowers the Pleading Bar for “Fake Sale” Caseshttp://www.faruqilaw.com/news/show/id/169 Earlier this week, the Ninth Circuit Court of Appeals reversed a lower court’s decision dismissing a “fake sale” suit for lack of specificity. The class action suit brought by a California consumer alleges that defendant Neiman Marcus engaged in deceptive conduct by selling products at its “Last Call Store” with artificial “Compared to” price tags, when those products were never offered for sale at any point in any traditional Neiman Marcus store. Instead, the products were manufactured strictly for sale at the Last Call Stores, according to the complaint. While the lower court had dismissed the case, reasoning that plaintiff had not provided “evidence that [defendant] advertised that its ‘Last Call’ stores sold merchandise previously for sale at the flagship stores.”  The Ninth Circuit disagreed, noting that “[w]ithout an opportunity to conduct any discovery, [plaintiff] cannot reasonably be expected to have detailed personal knowledge of Neiman Marcus's internal pricing policies.” The Ninth Circuit remanded the case, holding that plaintiff “need not specifically plead facts to which she cannot ‘reasonably be expected to have access.’”

The full decision can be found at:
https://cdn.ca9.uscourts.gov/datastore/memoranda/2017/04/18/15-55890.pdf

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Fri, 21 Apr 2017 00:00:00Alex Coviello
California’s Supreme Court pushes back on Concepcionhttp://www.faruqilaw.com/news/show/id/168 In a unanimous ruling earlier this month, the Supreme Court of California held that an arbitration agreement waiving the public’s right to seek class-wide injunctive relief violates public policy and is therefore unenforceable. The landmark decision in McGill v. Citibank, N.A., pushes back on the U.S. Supreme Court’s decision in AT&T Mobility LLC v. Concepcion, which permits companies to force consumers’ class action claims, whether for damages or injunctive relief, into private arbitration. “A provision in any contract ... that purports to waive ... the statutory right to seek public injunctive relief under the UCL, the CLRA, or the False Advertising Law is invalid and unenforceable under California law,” wrote the California Supreme Court.

For more information on the recent decision, please visit https://dlbjbjzgnk95t.cloudfront.net/0910000/910792/decision.pdf

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Mon, 17 Apr 2017 00:00:00Alex Coviello
Faruqi & Faruqi, Llp Announces Preliminary Approval Of Settlement In In Re Geron Corporation Securities Litigationhttp://www.faruqilaw.com/news/show/id/167 Faruqi & Faruqi LLP is pleased to announce that the Court has preliminarily approved a settlement in In re Geron Corp. Sec. Litig., Case No: 3:14-CV-01224-CRB.  The settlement provides for a cash payment of $6.25 million in exchange for the release of all claims alleged in the action.  As a result, notice will be sent to class members to advise them of their rights to participate in, object to, or seek exclusion from the settlement.  For more information regarding the settlement, please visit www.GeronCorporationSecuritiesLitigation.com.  The final fairness hearing is scheduled for July 21, 2017.

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Mon, 10 Apr 2017 00:00:00Raul Mondragon
Faruqi & Faruqi Reaches Settlement On Behalf Of Shareholders Of Avalanche Biotechnologies, Inc.http://www.faruqilaw.com/news/show/id/166 Faruqi & Faruqi is pleased to announce that on March 16, 2017, Plaintiffs, on behalf of themselves and a class of all persons who purchased the common stock of Avalanche Biotechnologies, Inc. (“Avalanche) traceable to the Avalanche IPO seeking to pursue remedies under the Securities Act of 1933 and/or purchased Avalanche common stock between July 31, 2014 and June 15, 2015, inclusive, seeking to pursue remedies under the Securities Exchange Act of 1934, reached a settlement in principle with the defendants named in this action, whereby the defendants will pay $13,000,000 in cash to shareholders in exchange for a release of the claims alleged against them in Plaintiffs’ lawsuit pending in the U.S. District Court for the Northern District of California and the lawsuit pending in the Superior Court of the State of California for the County of San Mateo filed by Beaver County Employees Retirement Fund (“Beaver County”).  Plaintiffs and Beaver County intend to seek approval of the settlement in state court.  If the court preliminarily approves the settlement, notice will be sent to class members to advise them of their rights to participate in, object to, or seek exclusion from the settlement.

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Wed, 22 Mar 2017 00:00:00Alex Coviello
Faruqi & Faruqi recognized as one of the Top Law Firms representing plaintiffs (2009-2016), Lex Machina Securities Litigation Report 2017http://www.faruqilaw.com/news/show/id/165 Faruqi & Faruqi recognized as one of the Top Law Firms representing plaintiffs (2009-2016), Lex Machina Securities Litigation Report 2017


Click here to read the Law360 article.

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Thu, 16 Mar 2017 00:00:00Alex Coviello
Faruqi & Faruqi Obtains Significant Victory On Behalf of Consumers in Becerra et al. v. General Motors LLChttp://www.faruqilaw.com/news/show/id/164 On March 10, 2017, the Honorable William Q. Hayes of the United States District Court for the Southern District of California denied, in part, Defendant’s Motion to Dismiss in Becerra et al. v. General Motors LLC, No. 15-cv-02365.  Judge Hayes found that Plaintiffs had sufficiently pled claims against General Motors for manufacturing and selling trucks with inadequate headlights that failed to sufficiently illuminate the road for safe night-time driving conditions.  Faruqi & Faruqi, as co-lead counsel, represents the Plaintiffs and a class of similarly-situated consumers who purchased the 2014 – 2015 model year GMC Sierra vehicles.  Innessa Melamed heads the litigation on behalf of Faruqi & Faruqi.

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Wed, 15 Mar 2017 00:00:00Alex Coviello
Faruqi & Faruqi, LLP Reaches Settlement On Behalf Of Investors In Acadia Pharmaceuticals Inc.http://www.faruqilaw.com/news/show/id/163 Faruqi & Faruqi, LLP is pleased to announce that on March 13, 2017, Lead Plaintiffs, on behalf of themselves and a class of all persons who purchased or otherwise acquired publicly-traded ACADIA common stock and/or call options in the United States or on the NASDAQ Global Select Market during the period between November 10, 2014 and March 11, 2015, both dates inclusive, reached a settlement with ACADIA Pharmaceuticals Inc., Uli Hacksell, Stephen R. Davis, and Roger G. Mills (“Defendants”), whereby Defendants will pay $2,925,000 in cash to Class Members in exchange for a release of the claims against them.  Lead Plaintiffs have moved for preliminary approval of the settlement from the Court.  If the Court preliminarily approves the settlement, notice will be sent to Class Members to advise them of their rights to participate in, object to, or seek exclusion from the settlement.

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Tue, 14 Mar 2017 00:00:00Alex Coviello
Faruqi & Faruqi, LLP Reaches Settlement On Behalf Of Shareholders Of Geron Corporationhttp://www.faruqilaw.com/news/show/id/162 Faruqi & Faruqi is pleased to announce that on March 2, 2017, Lead Plaintiff Vinod Patel, on behalf of himself and a class of all persons who purchased Geron common stock between December 10, 2012 and March 11, 2014, reached a settlement with Geron Corporation, Dr. John A. Scarlett, M.D., Olivia K. Bloom, and Dr. Stephen M. Kelsey, M.D. (“Defendants”), whereby Defendants will pay $6,250,000 in cash to shareholders in exchange for a release of the claims against them.  Lead Plaintiff has moved for preliminary approval of the settlement from the Court.

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Wed, 8 Mar 2017 00:00:00Alex Coviello
Faruqi & Faruqi, LLP, Obtains Significant Victories On Behalf Of Consumers In Saidian v. Krispy Kreme Doughnut Corporationhttp://www.faruqilaw.com/news/show/id/161 On February 27, 2017, United States District Court Judge Stephen V. Wilson denied a motion to dismiss, a motion to stay and a motion to strike filed by Krispy Kreme Doughnut Corporation (“Krispy Kreme”). The Court refused to dismiss claims that Krispy Kreme violated California consumer protection laws when they sold the following doughnuts Chocolate Iced Raspberry Filled, Maple Ice Glazed, Maple bar, and Glazed Blueberry Cake that did not contain raspberries, maple syrup, maple sugar or blueberries.

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Fri, 3 Mar 2017 00:00:00Alex Coviello
Faruqi & Faruqi obtains Collective Certification on behalf of Aldi Store Managershttp://www.faruqilaw.com/news/show/id/160 On February 22, 2017, the Honorable Andrew Baxter of the United States District Court for the Northern District of New York conditionally certified a collective action brought by Aldi Store Managers alleging the grocery chain misclassified them as exempt employees under the FLSA, in Griffin et al. v. Aldi Inc., No. 5:16-cv-00354.  Judge Baxter found that Plaintiffs have sufficiently alleged that they are similarly-situated to all other Aldi Store Managers because they were all victims of Aldi’s common policy of classifying employees as exempt while requiring them to perform largely non-exempt, manual labor tasks.  Faruqi & Faruqi, as co-lead counsel, represents the Plaintiffs and a class of similarly-situated current and former Store Managers employed by Aldi.  Innessa Melamed heads the litigation on behalf of Faruqi & Faruqi.

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Fri, 24 Feb 2017 00:00:00Alex Coviello