Panel: Court Properly Ruled That Shareholders Failed To Plead Falsity
Mealey's (April 15, 2016, 8:40 AM EDT) -- SAN FRANCISCO — A federal district court did not err in dismissing a securities class action complaint against Netflix Inc. and certain of its officers and directors because shareholders failed to plead falsity as statutorily required, a Ninth Circuit U.S. Court of Appeals panel ruled April 11 (In re Netflix Inc. Securities Litigation, No. 14-15315, 9th Cir.; 2016 U.S. App. LEXIS 6569).
(Opinion available. Document #57-160418-087Z.)
Shareholders Arkansas Teacher Retirement System and State-Boston Retirement System filed a first amended complaint (FAC) in the U.S. District Court...