Panel: Pension Fund Properly Pleaded Falsity In Making Securities Law Claims
(February 11, 2016, 5:03 PM EST) -- SAN FRANCISCO — A federal district court erred in dismissing an amended securities class action complaint for failure to properly plead scienter because the lead plaintiff alleged falsity in stating its federal securities law claims, a Ninth Circuit U.S. Court of Appeals panel ruled Jan. 9 in reversing and remanding (In re Finisar Corp. Securities Litigation, No. 13-17199, 9th Cir.; 2016 U.S. App. LEXIS 487).
(Opinion available. Document #57-160216-002Z.)
Lead plaintiff Oklahoma Firefighters Pension and Retirement System filed an amended complaint in the U.S. District Court...