BFA Founder Javier Bleichmar Quoted By Law360

On July 26, 2024, BFA Founder and Partner Javier Bleichmar was quoted by Law360 in an article titled “Shareholder Litigation To Watch: A Midyear Report.”  The article discusses developing trends in securities litigation as well as the potential impact of two securities class actions that will be considered by the U.S. Supreme Court in its upcoming term.  One of the securities class actions before the Supreme Court involves Meta Platforms, Inc. and arises from the company’s alleged misrepresentations concerning the Cambridge Analytica scandal and pervasive misuse of customer data.  The primary issue before the Supreme Court in that case is the scope of the company’s disclosure obligations with respect to business risks that had already materialized.  According to Mr. Bleichmar and as quoted by Law360, “The rationale for not disclosing that a risk has already materialized when the issuer already identified it as sufficiently important to be a risk factor seems to make little sense.”
 
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