Holland & Knight Prevails in Securities Class Action
A securities class action alleged that a Holland & Knight client and four other issuers of securities, as well as their investment bank underwriter, engaged in a complex scheme to defraud investors. The case was tranferred for consolidation with the IPO litigation pending in that court. With co-counsel, Holland & Knight successfully moved to dismiss all of the plaintiff's claims on grounds that the complaint did not adequately plead loss causation. The dismissal was upheld on appeal.