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The Ninth Circuit has amended its opinion in a securities fraud class action against a pop culture collectibles manufacturer, clarifying that the company's risk disclosures improperly framed already-realized harms as hypothetical future risks. The court denied petitions for panel rehearing and rehearing en banc, maintaining its partial reversal of the district court's dismissal of claims under Sections 10(b) and 20(a) of the Securities Exchange Act.

This is the first edition of UK Litigation Review—an annual publication focused on outcomes, trends and developments in civil litigation over the past year of relevance to both practitioners and clients