Dismissal Of Stock-Drop Suit Claims Against Mining Company Upheld By 9th Circuit

Mealey's (May 11, 2020, 1:44 PM EDT) -- SAN FRANCISCO — A federal district court did not err in dismissing a shareholder class action brought against a mining company and two of its senior executives who shareholders alleged misrepresented the business and financial condition of the company’s Alaskan mining project because the shareholders failed to sufficiently plead scienter in making their federal securities law claims, a Ninth Circuit U.S. Court of Appeals panel ruled May 8 (Stephania Nozak, et al. v. Northern Dynasty Ltd., et al., No. 19-55342, 9th Cir., 2020 U.S. Dist. LEXIS 14726)....