No matter how much a shareholder strives and seeks, it cannot find the “profit realized” when an issuer repurchases its own stock on the open market. This according to the Eleventh Circuit’s per curiam opinion in Roth v. Russell. 2025 WL 1553628 (11th Cir. June 2, 2025). Andrew Roth saw an opportunity when Luminar Technologies,…
Author: Thomas Spring
Changes to Eleventh Circuit Filing Rules
On April 1, 2025, two important changes to the Eleventh Circuit’s filing rules will take effect. First, all sealed documents must be sealed through ECF. See 11th Cir. R. 25-3(h). Instructions for doing so are available on the Eleventh Circuit’s website. Second, the court will no longer accept submission of paper copies of briefs and…
Non-Party Removal Was a Waivable Defect, but State-Law Service-of-Process Rule Applied
James H. Wilson III sued Hearos, LLC in Georgia state court, alleging he suffered permanent hearing loss at a shooting range because of Hearos’s faulty earplugs. Wilson v. Hearos, LLC, No. 23-12550 (11th Cir. Feb. 18, 2025). A non-party, Protective Industrial Products, Inc. (PIP), removed that suit to federal court, where it was dismissed as…
Be Careful What You Incorporate By Reference
In Calderon et al. v. Sixt Rent a Car, LLC, __ F.4th __, 2024 WL 3823210 (Aug. 15, 2024), the court got a chance to flex its choice-of-law muscles. Putative class representatives from three states alleged breach of contract and violations of the Florida Deceptive and Unfair Trade Practices Act (FDUTPA) against Sixt Rent a…