Simpson Thacher successfully obtained the affirmance by the Second Circuit of a judgment in favor of its clients Regional Management Corp. and current and former directors, officers and shareholders of Regional Management.
In an order of January 26, 2018, the United States Court of Appeals for the Second Circuit ruled that the securities class action plaintiffs failed to plead any misstatement by defendants and that plaintiffs’ allegations were nothing more than impermissible allegations of “fraud by hindsight.” The Second Circuit thus affirmed the complete dismissal of all claims, as previously ordered by Judge Laura Taylor Swain of the Southern District of New York.
The Simpson Thacher team consisted of George Wang (Picture), Shannon McGovern, Julia Heald and Eamonn Campbell.
Law Firms: Simpson Thacher & Bartlett;
Clients: Regional Management Corporation;