Panel Upholds Dismissal Of Investor Suit Over Lack Of Subjective Falsity

Mealey's (January 25, 2023, 11:50 AM EST) -- SAN FRANCISCO — A federal district court did not err in dismissing claims against a cybersecurity company and its CEO in a shareholder class action, in which the defendants were alleged to have misrepresented the company’s financial projections before a merger deal, because the lead plaintiff in the action failed to sufficiently plead subjective falsity in making his federal securities law claims, a Ninth Circuit U.S. Court of Appeals panel affirmed....