U.S. Court of Appeals for the Fourth Circuit

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Fourth Circuit affirms district court’s dismissal of complaint alleging violations of federal securities laws by supposed omission of material information about data vulnerabilities in company’s public statements

April 21, 2022

The opinion upholds the district court’s ruling that none of the relevant statements were false or misleading when made.

U.S. Chamber urges Fourth Circuit to affirm district court’s ruling

October 28, 2021

Click here to view the Chamber’s amicus brief urging the Fourth Circuit to affirm the district court’s ruling that when a company cautions investors in risk factors about the risk of potential cyberattacks, it does not have to detail publicly all of its cybersecurity vulnerabilities to avoid liability for securities fraud. Judson O. Littleton and Daniel J. Richardson of Sullivan & Cromwell LLP and the U.S. Chamber’s Litigation Center served as co-counsel for the U.S. Chamber.

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