On September 10, 2025, Judge Vernon S. Broderick of the Southern District of New York granted a motion to dismiss a putative securities fraud class action brought against an e-commerce company (the “Company”) and its founder, certain of its executive officers, board members, and IPO underwriters.  N.Y.C. Pub. Pension Funds v. Coupang, Inc., et al., 22-CV-7309 (VSB) (S.D.N.Y. Sept. 10, 2025).

On July 28, 2025, Judge Jessica G. L. Clarke of the United States District Court for the Southern District of New York denied a motion for judgment on the pleadings to dismiss a claim under Section 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) in a putative class action against a former executive (the “Individual Defendant”) of a natural food and beverages company (the “Company” and, together, “Defendants”).  The complaint alleges Defendants concealed that the source of the Company’s increased profits derived from allegedly unsustainable business practices.  Sills v. United Natural Foods, Inc., 23-CV-2364 (S.D.N.Y. July 28, 2025).  

On February 7, 2025, Judge Paul A. Engelmayer of the United States District Court for the Southern District of New York denied a motion for judgment on the pleadings in a putative class action against a cryptocurrency exchange company (the “Company”), its parent, and the parent’s CEO for alleged violations of Sections 12 and 15 of the Securities Act of 1933 (the “Securities Act”), Section 29(b) of the Securities Exchange Act of 1934 (the “Exchange Act”), and securities laws of California, Florida, and New Jersey.  Underwood v. Coinbase Glob., Inc., No. 21 Civ. 8353 (PAE) (S.D.N.Y. Feb. 7, 2025).