Shareholder Opposes Supreme Court Review Of Panel’s ‘Duty To Update’ Finding

Mealey's (April 9, 2019, 2:42 PM EDT) -- WASHINGTON, D.C. — U.S. Supreme Court review of a Ninth Circuit U.S. Court of Appeals panel’s partial reversal of a federal district court’s dismissal of federal claims in a securities class action lawsuit is unnecessary because the Ninth Circuit did not impose a “duty to update” a “statement of historical fact that was accurate when made, where the ‘value’ or ‘weight’ of that prior statement was later ‘diminished’ by subsequent events” as petitioners argue in a petition for writ of certiorari, a shareholder argues in an April 4 opposition brief filed in the Supreme Court (Joseph P. Hagan, et al. v. Karim Khoja, No. 18-1010, U.S. Sup.)....