A few months ago, securities litigators viewed OT24 with excitement: The Court had granted cert in not one, but two cases addressing when a complaint adequately alleged securities fraud under the Private Securities Litigation Reform Act. No more: A few weeks ago, the Court took back the first of those grants, dismissing Facebook, Inc. v. Amalgamated Bank as improvidently granted. Then last week, to the
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Facebook, Inc. v. Amalgamated Bank (No. 23-980)
Before the Thanksgiving holiday, the Court issued its first “decision” in one of the 46 cases (so far) that make up its OT24 term. But just like last year, this year’s first decision was more of a decision not to decide: In Facebook, Inc. v. Amalgamated Bank (No. 23-980), the Court dismissed the case as improvidently granted in a one-sentence order with no…
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