backOn March 31st, 2025, Judge Diane Gujarati in the Eastern District of New York granted our motion to dismiss the claims brought against our client, The Gap Inc., and its former CEO and CFO, under Sections 10(b) and 20(a) of the Securities and Exchange Act of 1934. The Court held that plaintiffs failed to adequately allege a material misstatement or omission and failed to adequately plead scienter with respect to statements about a size inclusivity campaign for Gap’s Old Navy brand. The Court made the dismissal with prejudice and denied plaintiffs any leave to replead.
The K&S lawyers involved in the case and the motion to dismiss briefing were Israel Dahan, Samantha Kavanaugh, Jenny Pelaez, and Frances Fink.