BlackRock Wins Appeal in ETF ‘Flash Crash’ Securities Case

Skadden represented BlackRock in the affirmance by the California Court of Appeal for the First District of the dismissal of claims under Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 brought by a putative class of shareholders who sold their BlackRock-managed iShares exchange-traded funds and allegedly suffered losses in the August 2015 “flash crash.”