On August 12, 2020, the United States Court of Appeals for the
Second Circuit affirmed a decision by the United States District
Court for the Southern District of New York denying a motion for
relief from judgment filed by plaintiffs in a putative class action
asserting claims against a restaurant chain and certain of its
executives under the Securities Exchange Act of 1934.
Metzler Inv. Gmbh v. Chipotle Mexican Grill, Inc.,
—F.3d—, 2020 WL 4644799 (2d Cir. 2020). As
discussed in our prior
post, the district court dismissed
plaintiffs' second amended complaint with prejudice, holding
that plaintiffs had not adequately alleged actionable misstatements
and denying plaintiffs' request for leave to amend.
Id. at *6. Following that decision, plaintiffs
moved for relief from the judgment and again sought leave to file a
third amended complaint.
Id. The district
court denied plaintiffs' post-judgment motion, concluding that
plaintiffs had failed to demonstrate
