Panel:  District Court Properly Dismissed Securities Claims For Lack Of Scienter

(December 23, 2019, 9:52 AM EST) -- SAN FRANCISCO — A federal district court did not err in ruling that a lead plaintiff in a securities class action lawsuit against a developer and manufacturer of electronic design automation (EDA) products and certain of its senior executives failed to plead scienter in pleading that the defendants misrepresented the company’s financial condition and growth prospects, a Ninth Circuit U.S. Court of Appeals panel ruled Dec. 18 (Western Pennsylvania Electrical Employees’ Pension Fund v. Mentor Graphics Corp., et al., No. 18-35693, 9th Cir., 2019 U.S. App. LEXIS 37518)....

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