New opinion [updated]

Jaroslawicz v. M&T Bank — civil — partial reversal — Vanaskie

UPDATE: on June 4, 2019, the court granted panel rehearing, vacated this opinion, and reconstituted the panel.

Today the Third Circuit reversed in part the dismissal of a shareholder suit in the wake of a 2012 bank merger, holding in a detailed opinion that the shareholders pleaded actionable claims for failing to disclose risk factors prior to the merger and plausibly alleged loss causation.

Joining Vanaskie were McKee and Siler CA6 by designation. Arguing counsel were Deborah Gross of Kaufman Coren for the appellants and Barry clerk Bradley Wilson of Wachtell for the appellees (George Conway III was on the brief).