Welcome to A&O Shearman's Need-To-Know Litigation Weekly, which analyzes notable U.S. decisions, orders and developments each week in areas of Securities Litigation, Government/Regulatory Enforcement, M&A and Corporate Governance, Antitrust Litigation and IP Litigation. This weekly newsletter is intended to supplement our various publications and thought leadership concerning these important substantive areas.
Securities Litigation
Western District Of Washington Declines To Dismiss Putative Class Action Against Technology Company
On October 28, 2025, Judge Tiffany M. Cartwright of the United States District Court for the Western District of Washington largely denied motions to dismiss a putative class action asserting claims under the Securities Exchange Act of 1934 against a technology company, certain of its executives, and certain controlling shareholders. State Teachers Ret. Sys. of Ohio v. ZoomInfo Techs. Inc., 2025 WL 3013683 (W.D.Wa. Oct. 28, 2025). Read More
Northern District Of California Holds Complaint Against Cybersecurity Company Fails To Allege Scienter For A Second Time
On October 2, 2025, Judge Haywood S. Gilliam Jr. of the United States District Court for the Northern District of California granted a motion to dismiss a putative securities class action against a cybersecurity company (the “Company”) and its CEO and former CFO (the “Individual Defendants” and, collectively, the “Defendants”). In re SentinelOne, Inc. Sec. Litig., No. 4:23-cv-02786 (N.D. Cal. Oct. 2, 2025). Read More
Government/Regulatory Enforcement
Sixth Circuit Reaffirms Robust Privilege And Work-Product Protection For Internal Investigations In FirstEnergy Mandamus Ruling
On October 3, 2025, the United States Court of Appeals for the Sixth Circuit issued a decision granting FirstEnergy Corporation’s (“FirstEnergy”) petition for a writ of mandamus and vacating a district court order compelling production of materials created by outside counsel in the course of conducting two internal investigations. In re FirstEnergy Corp., No. 24-3654 (6th Cir. Oct. 3, 2025). Read More
SEC Restores Practice Of Considering Settlement Offers Conditioned On The Issuance Of Collateral Consequence Waivers
On September 26, 2025, Securities and Exchange Commission (“SEC” or the “Commission”) Chairman Paul Atkins issued a Statement on Simultaneous Commission Consideration of Settlement Offers and Related Requests (the “Public Statement”), announcing a significant policy reversal and return to prior practice.Read More
M&A and Corporate Governance
Delaware Court Of Chancery Finds Cancellation And Repurchase Of Shares Unauthorized For Failure To Adhere To Corporate Formalities
On September 9, 2025, Vice Chancellor J. Travis Laster of the Delaware Court of Chancery issued a post-trial decision in favor of plaintiffs with respect to a conversion claim in an action brought by two co-founders of a startup who alleged that defendants, two other co-founders, including the CEO, and the Company wrongfully deprived them of their shares. Foley v. Session Corp., C.A. No. 2023-0186-JTL (Del. Ch. Sept. 9, 2025).Read More
Delaware Chancery Court Grants Partial Judgment On Post-Acquisition Earnout Payments, Finding They Were Not Conditioned On Compliance With Other Provisions
On July 31, 2025, Vice Chancellor Lori W. Will of the Delaware Court of Chancery granted partial judgment on the pleadings on a breach of contract counterclaim asserted by defendant, the former majority owner of two intellectual property insurance underwriting companies that were sold to a risk management company (the “Buyer”), in his individual capacity and also as the representative of the sellers (the “Sellers’ Representative”) in a post-acquisition dispute.Read More
Antitrust Litigation
Minnesota Court Grants In Part And Denies In Part Motion To Dismiss Granulated Sugar Antitrust MDL
On October 15, 2025, Judge Jerry W. Blackwell of the United States District Court for the District of Minnesota granted in part and denied in part defendants’ motions to dismiss a multidistrict litigation alleging a conspiracy to fix prices and exchange competitively sensitive information among granulated sugar producers. In re Granulated Sugar Antitrust Litig., MDL No. 34-3110 (JWB/DTS).Read More
Dentists Denied Class Certification In Delta Dental Antitrust Lawsuit
On September 22, 2025, United States District Judge Elaine E. Bucklo of the Northern District of Illinois denied class certification to a putative class of approximately 240,000 dentists that alleged Delta Dental, a nationwide provider of commercial dental insurance, conspired to suppress provider reimbursement rates in violation of Section 1 of the Sherman Act. In re Delta Dental Antitrust Litig., 1:19-cv-06734, MDL 2931 (N.D. Ill. Sept. 22, 2025). Read More
Intellectual Property Litigation
Consistent And Interchangeable Use Of Terms Leads To Implicit Lexicographic Definition
In an October 27, 2025 precedential opinion, Aortic Innovations LLC v. Edwards Lifesciences Corp., No. 2024-1145, the Federal Circuit affirmed a stipulated judgment of non-infringement in favor of Edwards Lifesciences (“Edwards”) based on the district court’s construction of the term “outer frame” in Aortic Innovations’ (“Aortic”) transcatheter aortic valve replacement device patents.Read More
Federal Circuit Affirms The ITC’s Finding Of Invalidity Of Water-Filter Patent
In Brita LP v. Int’l Trade Comm’n, No. 24-1098 (Fed. Cir. Oct. 15, 2025), the Federal Circuit, in a precedential opinion, affirmed the International Trade Commission’s (“ITC” or “Commission”) decision that certain claims of U.S. Patent No. 8,167,141 (“the ’141 patent”) are invalid for lack of written description and lack of enablement.Read More