Tellabs Standard Properly Applied In Securities Class Action, High Court Told

(April 30, 2018, 8:31 AM EDT) -- WASHINGTON, D.C. — A Fourth Circuit U.S. Court of Appeals panel properly applied the standard set forth in the U.S. Supreme Court’s ruling in Tellabs Inc. v. Makor Issues & Rights in determining that an investor failed to properly plead scienter in making its federal securities law claims against a company and two of its senior executives in a class action lawsuit, the defendants argue in an opposition brief filed on April 16 in the Supreme Court (Maguire Financial LP v. PowerSecure International Inc., et al., No. 17-1303)....