Category: Uncategorized

Motion Victory in Vaxart, Inc. Securities Litigation

Scott+Scott this week secured important sanctions and summary judgment motion victories in a long-running securities action against hedge fund Armistice Capital and its two executives, who had invested heavily in Vaxart, Inc., a biotechnology company. Judge Vince Chhabria of the United States District Court, Northern District of California, denied defendants’ motion for summary judgement in full, sustaining plaintiffs’ scheme liability and insider trading claims, and simultaneously finding defendants in violation of Fed. R. Civ. P. 37 for their deletion of text messages crucial to the action.

Lawsuit Filed Against Visa and Mastercard

The collective interest group stichting MIFC (MIFC Foundation) has decided to initiate legal proceedings against credit card companies Visa and Mastercard. Both Visa and Mastercard charged excessive transaction costs – interchange fees – to Dutch entrepreneurs who accepted interregional transactions since at least 1992. As a result, they paid too much for years. The collective action is expected to start on 8 July and was filed by Scott+Scott Amsterdam on behalf of MIFC Foundation.

Victory in Trial Against Visa and Mastercard

The UK Competition Appeal Tribunal today ruled that Visa and Mastercard’s Multilateral Interchange Fees (MIFs or interchange fees) amounted to an infringement of UK and Irish competition law. This is a significant victory for thousands of merchants located across Europe. The ruling in this case, led by the London office of Scott+Scott, is a landmark victory for its clients.

Scott+Scott Bolsters Securities Litigation Practice

Scott+Scott has strategically expanded its Securities Litigation Practice Group by adding former U.S. Securities and Exchange Commission attorney Karolina Klyuchnikova to its New York team. Ms. Klyuchnikova served as Enforcement Counsel at the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority, where she investigated and litigated violations of federal securities laws, such as fraud, insider trading, market manipulation, and material misrepresentations.

Scott+Scott Recognized in 3 Leading Legal Guides

Scott+Scott and several of our partners have been recently recognized by three leading legal publications and received top tier rankings. The accolades include recognition by Chambers & Partners, Lawdragon, and Legal 500. Chambers recognized Scott+Scott in its Antitrust: Mainly Plaintiff, New York category, highlighting that “the team handle some of the largest cases in the country.” Lawdragon named eight Scott+Scott partners in its 500 Leading Plaintiff Financial Lawyers Guide 2025.

Securities Case Against Hayward Moves Forward

A Scott+Scott Securities Practice Group case filed against pool manufacturer Hayward Holdings, Inc. and its top executives has successfully overcome a significant hurdle to move forward. Judge William J. Martini, United States District Court Judge for the District of New Jersey, this week granted in part and denied in part the defendants’ motions to dismiss the case. As the consolidated amended class action complaint alleges, the defendants made false and misleading statements about the company’s channel inventory, demand, and sales.

Co-Lead Counsel Appointment in Case Against Transmedics Group

Scott+Scott this week was appointed Co-Lead Counsel in a securities class action against the organ transplant technology provider Transmedics Group, Inc., and the company’s senior executives. According to the court order by Judge Leo T. Sorokin of the United States District Court of the District of Massachusetts, the plaintiffs allege that TransMedics “made statements […] about its business practices and revenue generation that were materially false and misleading.” The plaintiffs’ class period is between February 28, 2023, and January 10, 2025, inclusive.

Scott+Scott Files Class Action Against Blue Shield

Scott+Scott, along with three other law firms as co-counsel, this week filed a data privacy class action lawsuit against Blue Shield of California on behalf of current and former members whose communications, medical information, financial details, and other personal information were improperly disclosed. The complaint alleges that Blue Shield shared the health information of current and former members with unauthorized third parties through invisible online surveillance and tracking technologies embedded on its website.

Lawdragon Recognizes Scott+Scott Partners

In April, Scott+Scott Managing Partner David Scott and Partner Sylvia Sokol were named as being among the 500 Global Plaintiff Lawyers. Ms. Sokol oversees Scott+Scott’s three transatlantic offices. In March, Lawdragon added Partners Paige Alderson-Smith, Sindhu S. Daniel, and Erin Green Comite to its 500 Leading Plaintiff Consumer Lawyers guide. Earlier in the year, seven Partners were recognized as being among Lawdragon’s 500 Leading Global Antitrust & Competition Lawyers 2025.

200 French Media Publications File Suit Against Meta

For the first time in French history, 67 media organizations representing 200 publications – including public and private TV as well radio networks, regional and national newspapers – have joined forces and filed a lawsuit before the Business Tribunal (Tribunal des Activités Économiques) in Paris against Meta to recover losses stemming from unfair business and advertising practices. As the lawsuit alleges, Meta’s market dominance in the digital advertising sector is predominantly based on illegal practices, including the large-scale collection of personal data and its unlawful use for targeted advertising.