High Court Asked To Defer Action On Pending Petition After Settlement Is Reached

Mealey's (May 14, 2018, 11:34 AM EDT) -- WASHINGTON, D.C. — Parties in an appeal of a Ninth Circuit U.S. Court of Appeals securities class action ruling that sought clarification as to under which circumstances companies are protected by the safe harbor provision of the Private Securities Litigation Reform Act of 1995 (PSLRA) for making “non-forward-looking statements” about the company’s business prospects asked the U.S. Supreme Court on May 11 to defer action on a pending petition for writ of certiorari in the action because the parties have reached a settlement agreement (Quality Systems Inc., et al. v. City of Miami Fire Fighters’ and Police Officers’ Retirement Trust, et al., No. 17-1056, U.S. Sup.)....