Shareholders Properly Pleaded Scienter In Securities Class Action, Panel Rules
Mealey's (March 31, 2016, 2:55 PM EDT) -- NEW YORK — A Second Circuit U.S. Court of Appeals panel on March 29 substantially reversed a federal district court’s ruling dismissing a securities class action lawsuit with prejudice, ruling that the lead plaintiffs in the action properly pleaded scienter with regard to many of the claims (Indiana Public Retirement System, et al. v. SAIC Inc., et al., No. 14-4140, 2nd Cir.; 2016 U.S. Dist. LEXIS 5748).
(Opinion available. Document #57-160418-031Z.)
The lead plaintiffs filed an amended complaint in the U.S. District Court for the Southern...