9th Circuit Asked To Overturn Dismissal In Medical Device Maker Securities Suit

Mealey's (September 2, 2021, 2:41 PM EDT) -- SAN FRANCISCO — A federal district court erred in dismissing a shareholder’s federal securities law claims against a medical device maker and certain of its senior executives, in which the shareholder alleged that the defendants failed to disclose that the company was experiencing a significant drop in financial growth in sales of its most important product in the Chinese market because the court failed to properly apply the correct standard for pleading falsity, the shareholder argues in a Sept. 1 appellant brief filed in the Ninth Circuit U.S. Court of Appeals....