On July 15, 2025, Judge Cathy A. Bencivengo of the United States District Court for the Southern District of California dismissed with prejudice a putative securities class action against an U.S.-based telecommunications company (“Telecom Company”), a Taiwanese microchip manufacturer (“Microchip Company”), and several of their executives (together, “Defendants”), that asserted claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10(b).  Water Is. & Event-Driven Fund v. MaxLinear, Inc., No. 3:23-cv-1607-CAB-VET (S.D. Cal.).  

On May 19, 2025, Judge Edward J. Davila of the United States District Court for the Northern District of California dismissed without prejudice a proposed securities fraud class action asserting claims against a social networking platform (the “Company”), certain of its executives, and the sponsor of a special purpose acquisition company (“SPAC”) with which the Company merged under Sections 10(b), 14(a), and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rules 10b-5 and 14a-9. Hollingsworth v. Nextdoor Holdings, Inc. et al., No. 5:24-cv-01213-EJD (N.D. Cal. May 19, 2025).