Panel Denies Rehearing, Reverses Court’s Dismissal In Securities Class Action

Mealey's (March 29, 2016, 2:17 PM EDT) -- SAN FRANCISCO — A Ninth Circuit U.S. Court of Appeals panel on March 26 denied a motion for panel rehearing in a securities class action lawsuit and issued an amended memorandum reversing and remanding a federal district court’s dismissal of the action for failure to plead falsity (In re Finisar Corp. Securities Litigation, No. 13-17199, 9th Cir.; 2016 U.S. App. LEXIS 5653).

(Amended memorandum available. Document #57-160418-028Z.)

Lead plaintiff Oklahoma Firefighters Pension and Retirement System filed an amended complaint in the U.S. District Court for the...
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