Securities,
Civil Litigation,
9th U.S. Circuit Court of Appeals
Nov. 6, 2018
9th Circuit puts to rest decade-old Northstar litigation as preempted by SLUSA
One thing Northstar and other recent 9th Circuit cases make clear is that district courts in the 9th Circuit must read complaints holistically to determine whether the "gravamen" or "res gestae" of the complaint alleges misstatements or omissions that would be actionable under the federal securities laws.
Peter Wald
Partner
Latham & Watkins LLP
Email: peter.wald@lw.com
Peter is a San Francisco-based partner in the firm's Litigation & Trial Department and member of the firm's Securities Litigation and Professional Liability Practice.
Gavin M. Masuda
Partner
Latham & Watkins LLP
Email: gavin.masuda@lw.com
UC Hastings COL; San Francisco CA
Gavin Masuda is a San Francisco-based partner (as of January 1, 2019) in the firm's Litigation & Trial Department and member of the firm's Securities Litigation and Professional Liability Practice.
On Oct. 23, the 9th U.S. Circuit Court of Appeals likely put to rest Northstar Financial Advisors' decade-old lawsuit against Schwab Investments, Charles Schwab Investment Management, Inc. and the trustees of the Schwab Trust. The court denied Northstar's petition for rehearing en banc of the Sept. 14, panel decision in Northstar Financial Advisors v. Schw...
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