Civil Litigation
Aug. 2, 2021
Latham & Watkins wins for defense in rare holder’s claim trial
A holder’s claim is a cause of action in which a shareholder alleges he was planning to sell his shares but changed his mind and held them in reliance on false statements.
Executives of NextGen Healthcare, an Irvine company that sells electronic health record software, did not mislead a major shareholder into keeping his investment in the company, which resulted in a massive loss when NextGen's stock plummeted, an Orange County jury found.
The case is the first holder's claim to be tried in the country in nearly 90 years, according to defense attorneys at Latham & Watkins LLP.
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