Yahonnes Cleary

Jan 11, 2024 | lexology.com | Susanna M. Buergel |Geoffrey R. Chepiga |Yahonnes Cleary |Andrew J. Ehrlich |Daniel Kramer

On December 26, 2023, the Second Circuit in In re Philip Morris Int’l Inc. Securities Litigation issued a decision on two matters of first impression relating to falsity in the securities fraud context.

Nov 14, 2023 | lexology.com | Meredith R. Dearborn |Yahonnes Cleary |Harris Fischman |Melinda Haag

On November 2, the New York Appellate Division, First Department became the first appellate court in the state to hold that the automatic discovery stay under the Private Securities Litigation Reform Act (“PSLRA”) applies to securities class actions pending in New York state court.[1] Background Congress enacted the PSLRA in 1995 to deter plaintiffs from filing frivolous securities lawsuits and curb abusive discovery practices in such lawsuits before a court has had an opportunity to weigh in...

Nov 8, 2023 | lexology.com | Jessica Carey |John Carlin |Yahonnes Cleary |Roberto Finzi

On November 1, 2023, New York Superintendent of Financial Services Adrienne A. Harris announced that the New York State Department of Financial Services (“NYDFS”) had finalized updates to the cybersecurity regulations codified in 23 NYCRR 500 (“Part 500”).[1] The now final regulations reflect NYDFS’s effort to ensure that NYDFS-regulated entities implement robust cybersecurity policies and procedures.