Panel Affirms Court’s Dismissal Of Securities Suit For Failure To Plead Falsity

Mealey's (May 10, 2017, 2:22 PM EDT) -- SAN FRANCISCO — The lead plaintiff in a securities class action lawsuit against a tech company and certain of its current and former executive officers failed to plead any of the required elements of falsity as required pursuant to the U.S. Supreme Court’s ruling in Omnicare Inc., et al. v. The Laborers District Council Construction Industry Pension Fund and The Cement Masons Local 526 Combined Funds, a Ninth Circuit U.S. Court of Appeals panel ruled May 5 in affirming a lower court’s dismissal ruling (City of Dearborn Heights Act 345 Police & Fire Retirement System v. Align Technology Inc., et al., No. 14-16814, 9th Cir., 2017 U.S. App. LEXIS 8005)....