RYB Education Wins Dismissal of Securities Class Action

On behalf of RYB Education Inc., a provider of early childhood education in China, Skadden secured the complete dismissal of a putative securities class action. The plaintiffs asserted claims under Sections 11, 12(a)(2) and 15 of the Securities Act of 1933, claiming RYB concealed the risk of teacher malfeasance. In only the second Securities Act decision in the Queens County Commercial Division of the New York State Supreme Court since the U.S. Supreme Court’s Cyan decision, Justice Joseph Risi dismissed the case entirely.