Panel’s Ruling In Securities Class Action Erroneous, Defendants Argue

Mealey's (March 5, 2019, 2:04 PM EST) -- WASHINGTON, D.C. — The Ninth Circuit U.S. Court of Appeals erred in determining that an inferred private right of action is supported  by Section 14(e) of the Securities Exchange Act of 1934 based on mere negligence, a company argues in a Feb. 19 petitioner’s brief filed in the U.S. Supreme Court (Emulex Corp., et al. v. Gary Varjabedian, et al., No. 18-459, U.S. Sup., 2019 U.S. S. Ct. Briefs LEXIS 613)....