Review Of Section 14(e) Pleading Standard Ruling Unnecessary, Investors Say

(December 7, 2018, 12:40 PM EST) -- WASHINGTON, D.C. — There is no split among the circuits after a Ninth Circuit U.S. Court of Appeals ruling in a securities class action lawsuit that Section 14(e) of the Securities Exchange Act of 1934 requires proof of negligence and not scienter and, thus, there is no need for U.S. Supreme Court review of the holding, shareholders argue in a Nov. 30 opposition brief filed in the Supreme Court (Emulex Corp., et al. v. Gary Varjabedian, et al., No. 18-459, U.S. Sup.)....