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Southern District Of New York Grants Motion To Dismiss Securities Fraud Claims Against Clothing Company And Individual Defendants, Finding Plaintiffs Failed To Plead Material Misstatements And Scienter - Corporate/Commercial Law


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On July 19, 2021, Judge Vernon S. Broderick of the Southern
District of New York granted a motion to dismiss claims alleging
violations of Sections 10(b) and 20(a) of the Securities Exchange
Act of 1934 (the Exchange Act ) and Rule 10b-5
thereunder against a clothing company (the Company ),
its executives, and its majority shareholder.  
Cheng v.
Can. Goose Holdings Inc., No. 19-cv-08204 (S.D.N.Y. July 19,
2021).  Plaintiffs alleged defendants made materially false
and misleading statements concerning the shifting timeframe of
sales in its direct-to-consumer ( DTC ) channel (the ....

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