Panel: Court Applied ‘Proper Legal Standard For Scienter’ In Securities Suit
(June 10, 2016, 8:48 AM EDT) -- PASADENA, Calif. — A federal district court applied the proper pleading standard in determining that a shareholder failed to plead scienter in making his federal securities law claims against a pharmaceutical company and certain of its executive officers, a Ninth Circuit U.S. Court of Appeals panel ruled June 8 in affirming the district court’s ruling (Nathaniel L. Anderson v. Peregrine Pharmaceuticals Inc., et al., No. 14-55882, 9th Cir.).
(Memorandum available. Document #57-160620-055Z.)
Shareholder Nathaniel L. Anderson filed a consolidated complaint in the U.S. District Court for...