Cooley earned a victory for Tremor Video (NYSE: TRMR) when the 2nd US Circuit Court of Appeals affirmed the trial court's dismissal of a putative shareholder class action arising out of the company's $75 million IPO.
New York-based Tremor Video is a video advertising platform that enables seamless transactions in a premium video market place by offering control and transparency to clients. It employs patented all-screen technology to make every advertising moment more relevant for consumers and deliver maximum results for buyers and sellers.
The three-judge panel of the 2nd Circuit affirmed US District Judge Paul A. Crotty's March 2015 dismissal order as well as his later denial of the plaintiff's request to amend the complaint finding the allegations in that proposed amended complaint completely speculative.
Koji Fukumura, co-chair of Cooley's securities litigation practice, said he was particularly gratified because "it is critically important for innovative technology companies like Tremor Video to access the capital markets and not face unfounded lawsuits."