Judge: Reconsideration In Securities Suit Not Warranted Pursuant To Foman Factors
Mealey's (November 13, 2015, 1:16 PM EST) -- SAN FRANCISCO — A federal judge in California on Nov. 11 denied an investor’s motion for leave to move for reconsideration in a securities fraud lawsuit, ruling that the investor has failed to show that reconsideration is warranted pursuant to the U.S. Supreme Court’s ruling in Foman v. Davis (Chetan Utterkar v. Ebix Inc., et al., No. 14-2250, N.D. Calif.; 2015 U.S. Dist. LEXIS 152839).
(Order available. Document #57-151116-038R.)
PlanetSoft Inc. shareholder Chetan Utterkar sued Ebix Inc. and former PlanetSoft President Sudhir Bajaj in the U.S....