Eversheds Sutherland 11th Circuit Business Blog
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Summary Judgment for Defendants Affirmed in Securities Fraud Case

In Whitehead v. BBVA Compass Bank, 2020 WL 6536897 (11th Cir. Nov. 6, 2020), the Eleventh Circuit affirmed summary judgment in favor of the defendant bank and bank officer on the plaintiff’s claims for securities fraud.  The plaintiff, an investor, claimed that the defendants wrongfully failed to inform him of the risks involved in acquiring a certain CD for his investment...

Stock Issuer Not Required to Disclose Hiring of Outside Promoters

In the first published appellate court decision to decide the issue, the Eleventh Circuit has held that companies that retain promoters to publish promotional materials to “recommend” or “tout” their stock (and raise the stock price) are not required by federal securities laws to disclose the business arrangement between the issuing company and promoter.  In Ballesteros v. Galectin...