Legal Opinion
In re Facebook, Inc.
Court of Appeals for the Second Circuit
Decided July 24, 2015No. Docket Nos. 14-1445, 14-1309, 14-1784, 14-632, 14-1788PublishedCited by 65 opinions
1Opinion of the Court
DENNIS JACOBS, Circuit Judge:
These in tandem appeals arise from related suits brought in the aftermath of the initial public offering by nominal defendant Facebook, Inc. (“Facebook”), the world’s largest social media company. In these putative shareholder derivative actions, plaintiffs allege that Facebook’s directors breached duties owed to the company because its Registration Statement failed to disclose the mid-quarter impact of mobile usage on the company’s projected growth.
One of the putative derivative actions was filed in the Southern District of New York. A related action was filed in…
2Cases cited28 opinions
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- Younger v. HarrisSupreme Court of the United States · 1971
- Steel Co. v. Citizens for a Better EnvironmentSupreme Court of the United States · 1998
- Amchem Products, Inc. v. WindsorSupreme Court of the United States · 1997
- Ruhrgas Ag v. Marathon Oil Co.Supreme Court of the United States · 1999
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3Cited by65 opinions
- Nat'l Credit Union Admin. Bd. v. U.S. Bank Nat'l Ass'nCourt of Appeals for the Second Circuit · 2018
- Richard Doermer v. Kathryn CallenCourt of Appeals for the Seventh Circuit · 2017
- Amadei v. NielsenDistrict Court, E.D. New York · 2018
- Siegel v. HSBC N. Am. Holdings, Inc.Court of Appeals for the Second Circuit · 2019
- Tlapanco v. ElgesDistrict Court, S.D. New York · 2016
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