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Jordan Joachim

Jordan Joachim is a litigator focused on complex commercial and class action litigation, including breach of contract, privacy, cybersecurity, securities, and shareholder derivative matters. He has worked with clients in a wide range of industries, including technology, financial services, life sciences, energy, and media and has extensive experience handling cases involving complex technologies.

Jordan has experience representing clients at all stages of litigation, from case inception through trial and appeal. He has drafted dispositive motions, managed complex discovery, taken and defended depositions, cross-examined witnesses at trial, and briefed appeals in federal and state courts.

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On Wednesday, November 13, the Supreme Court heard oral argument in the case NVIDIA Corp. v. Ohman J, a class action suit filed in the Northern District of California alleging securities fraud under § 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5.  Early signals from the Justices’ questions have led observers to believe that the Court may affirm the Ninth Circuit’s decision to reverse and remand the decision granting Nvidia’s motion to dismiss for failure to state a claim. Continue Reading Supreme Court Expresses Skepticism Regarding Nvidia’s Motion to Dismiss Securities Class Action

Last week, the Supreme Court granted certiorari in NVIDIA Corp. v. E. Ohman J:or Fonder AB to address two important questions on the standard for pleading securities fraud claims under the Private Securities Litigation Reform Act (“PSLRA”): (1) whether plaintiffs seeking to allege scienter under the PSLRA based on allegations about internal company documents must plead with particularity the contents of those documents, and (2) whether plaintiffs can satisfy the PSLRA’s falsity requirement by relying on an expert opinion to substitute for particularized allegations of fact.Continue Reading Supreme Court to Review Securities Pleading Standard

In a short, unanimous opinion on April 12, 2024, the Supreme Court shut the door on “pure omission” claims under Rule 10b–5 and made clear that the Rule is limited to claims based on false or misleading statements.

The case, Macquarie Infrastructure Corp. v. Moab Partners, L.P., concerns alleged omissions in Defendant Macquarie’s SEC filings related to its subsidiary’s operation of bulk liquid storage terminals.  In 2016, the United Nations’ International Maritime Organization issued a regulation limiting this subsidiary’s ability to store high-sulfur fuel oil, its single largest product. Though the regulation was set to take effect in 2020, Macquarie did not discuss the regulation in its public filings.Continue Reading Supreme Court rejects pure omission claims under SEC Rule 10b–5