Walter (Walt) Davis

In State of Rhode Island Office of the General Treasurer v. The Boeing Company, No. 25-1492 (4th Cir. July 20, 2026), the Fourth Circuit opined on the level of proof that securities class-action plaintiffs, at the time of...more On June 26, 2026, the Second Circuit affirmed the dismissal of a securities fraud claim, holding that a plaintiff must plausibly explain why a stock price decline that was delayed and merely tracked the broader market was...more Since the SEC stopped substantively responding to Rule 14a-8 no-action requests, shareholders are increasingly turning to litigation to challenge the exclusion of their proposals from company proxy materials. Once...more The Supreme Court's unanimous decision resolves a significant question regarding the SEC's disgorgement authority, foreclosing defendants from contesting disgorgement awards based on the absence of investor financial harm....more