Paul, Weiss is widely recognized as having one of the nation’s preeminent securities litigation and regulatory practices. For two decades, our lawyers have guided global corporations and financial institutions through a series of “bet-the-company” securities-related crises, consistently reducing or eliminating their most damaging claims and negotiating favorable resolutions.
Underwriting Syndicate Wins Dismissal of Investor Lawsuit Stemming From 2020 IPO
- Client News
- March 3, 2022
Practices
Representing the eight underwriters of the January 2020 IPO of Chinese social audio platform Lizhi, Inc., Paul, Weiss won the dismissal of an action brought in the New York State Supreme Court under the Securities Act of 1933. The plaintiff alleged that the underwriters failed to disclose the impact of COVID-19 on the company’s finances and operations when its registration statement was filed in mid-January 2020. In a two-page order, Justice Andrew Borrok dismissed the complaint without prejudice, explaining that COVID-19 “is not a shibboleth to asserting a claim” under the securities laws.
The Paul, Weiss team included litigation partner Susanna Buergel.