E-Commerce China Dangdang Wins Dismissal of Securities Class Action

On behalf of E-Commerce China Dangdang, Inc. and certain of its officers and directors, Skadden secured the dismissal of a securities class action stemming from the company’s 2016 going-private merger. The plaintiffs alleged that the merger was unfair to shareholders and that the company made materially false and misleading disclosures about the transaction. On August 28, Judge Katherine Polk Failla of the U.S. District Court for the Southern District of New York granted the defendants’ motion to dismiss.