Recent Updates In Two Closely-Watched Cybersecurity And Privacy-Related Securities Fraud Class Actions

Observers have been awaiting decisions in a number of cybersecurity and privacy securities fraud class actions with potentially important implications for corporate liability.  Over the last several weeks, critical developments emerged in two such cases: the defendants' motion to dismiss was granted in part and denied in part in In re Zoom Securities Litigation, and the Supreme Court denied cert of the Ninth Circuit's decision reviving the claims in Alphabet Inc. v. Rhode Island.

On February 16, 2022, Judge James Donato of the U.S. District Court for the Northern District of California issued an order granting in part and denying in part the Zoom defendants' motion to dismiss.