Two Litigation Victories Honored Among California’s Top Verdicts for 2025

Two decisive litigation wins — a summary judgment in favor of ChemoCentryx, acquired by Amgen during the litigation, in a securities class action alleging overstated clinical trial results and undisclosed regulatory feedback, and the complete dismissal with prejudice of trade secret misappropriation claims on behalf of CoStar — were honored among California’s Top Verdicts for 2025 by the Daily Journal. The list annually recognizes the “largest and most impactful trial outcomes in California federal and state courts.”

Latham defended ChemoCentryx, which became a wholly owned subsidiary of Amgen, in a securities class action accusing the biopharmaceutical company and its founder of making more than 100 false or misleading statements related to clinical trial results and regulatory disclosures. Global Chair of the Litigation & Trial Department Michele Johnson, Global Chair of the Securities and M&A Litigation Practice Andrew Clubok, and Global Vice Chair of the Securities and M&A Litigation and the Public Company & Board Representation Practices Colleen Smith led the Latham team. Drawing on case law from the Second Circuit in another Latham‑led litigation win, the team persuaded the Northern District of California to grant summary judgment on all challenged statements in August 2025, in which the court ruled that plaintiffs failed to establish falsity and that ChemoCentryx’s view of the clinical trial results was objectively reasonable. The court’s decision came after a postponed trial scheduled for September 2025, in which the damages at stake exceeded $1 billion.

Johnson told the Daily Journal that the “victory not only spared Amgen from a costly trial […] but also established important precedent for the biotech and pharmaceutical sectors at large, which are frequently targeted in securities class actions.”

Latham also successfully defended CoStar, owner of Homes.com and Apartments.com, against a complaint filed in the Central District of California by News Corp subsidiary Move Inc., which operates rival marketplace Realtor.com. The team was comprised of Global Vice Chair of the Complex Commercial Litigation Practice Nick Boyle, partners Matthew Walch and Anne Malinee, counsel Jessica Lynn Saba, and associates Katherine Griffitts, Ruth Hirsch, Eleanor Allen, and Lindsay Hardy. Latham and CoStar sprang into action against the suit, which accused CoStar and a former Move employee of trade secret misappropriation, demonstrating that Move’s core allegation was demonstrably false, defeating a preliminary injunction motion, and winning a motion to dismiss two of Move’s claims. Latham continued to apply pressure through multiple Rule 11 letters, two expedited depositions, and a motion for expedited discovery, pressing Move for evidence. When the firm notified Move that CoStar would seek sanctions, including costs and attorneys’ fees, Move voluntarily dismissed the case with prejudice — less than nine months after filing.

“In just nine months, we secured a dismissal of all claims with prejudice after multiple early victories,” Boyle shared with the Daily Journal. “We were able to convince the plaintiff to dismiss its own case with prejudice because our team executed an aggressive strategy that placed the plaintiff under significant and ultimately unbearable pressure.”