Chris Wingard, an Associate in Kleinbard’s Business & Finance Practice, authored a post on updates in Dalton et al. v. Freeman et al., a case arising from a 2020 ESOP redemption transaction, for the National Center for Employee Ownership (NCEO)’s Employee Ownership Legal Digest. The NCEO’s Legal Digest provides summaries of key cases, rulings, and legal developments impacting employee ownership. This post outlines the recent order from the U.S. District Court for the Eastern District of California requesting that the plaintiff submit specific factual allegations in a Rule 7 reply. The Court followed recent guidance from the Supreme Court in Cunningham v. Cornell that encouraged the use of Federal Rule of Civil Procedure 7(a) to require a reply pleading, which may help identify spurious claims before proceeding to discovery.
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