United States: Eleventh Circuit Affirms Dismissal Of Exchange Act Claims Against Biomedical Company, Finding Plaintiffs Did Not Adequately Plead Loss Causation - Shearman & Sterling LLP

Despite Increased Tensions, , US Continues to Send , Foreign Aid Into Russia and China. 'Newsweek' reports that despite heightened tensions, the United States committed almost $110,000 in foreign aid to Russia and another $240,000 to China. 'Newsweek' reports that despite heightened tensions, the United States committed almost $110,000 in foreign aid to Russia and another $240,000 to China. According to the American state-run website foreignassistance.gov, a majority of the money is going to tiger conservation projects. . According to the American state-run website foreignassistance.gov, a majority of the money is going to tiger conservation projects. . Data shows that $107,847 is scheduled to go to Amur Tiger Conservation in Russia. In addition to monitoring the number of tigers in Russia, the project conducts , "ecological studies of prey species to better inform conservation management systems.". 'Newsweek' reports that the U.S. has also committed $153,273 to a project in China aimed at "protecting Amur tigers via community-led engagement in northeast China.". According to the data, remaining funds were mostly spent on "direct administration costs," including money for travel expenses, personnel and "operations maintenance.". Some spending information from the Agency for International Development was redacted , "in accordance with the exceptions outlined in the Foreign Aid Transparency and Accountability Act of 2016.". 'Newsweek' points out that the amount of money sent into Russia and China pales in comparison to spending in Ukraine, which has exceeded $10 billion in 2023 alone. . This week, Russian foreign ministry spokesperson Alexei Polischuk said that Moscow would not remove nuclear weapons from Belarus unless , "the United States and NATO abandon their destructive course of purposefully undermining the security of Russia and Belarus.". This implies the complete withdrawal of all U.S. nuclear weapons to U.S. territory and the elimination of the corresponding infrastructure in Europe, Alexei Polischuk, Russian foreign ministry spokesperson, via 'Newsweek'. This implies the complete withdrawal of all U.S. nuclear weapons to U.S. territory and the elimination of the corresponding infrastructure in Europe, Alexei Polischuk, Russian foreign ministry spokesperson, via 'Newsweek'

The Court dismissed the amended complaint with prejudice, holding that plaintiffs failed to adequately plead falsity and scienter.

On August 8, 2023, the United States Court of Appeals for the Eleventh Circuit affirmed the dismissal of a putative class action asserting claims under the...