9th Circuit’s Tesla Ruling Forms Basis For Reconsideration In Securities Lawsuit

Mealey's (May 27, 2021, 2:26 PM EDT) -- PORTLAND, Ore. — A federal magistrate judge in Oregon on May 24 entered summary judgment on reconsideration for defendants in a securities class action lawsuit against an aviation parts manufacturing conglomerate and certain of its senior executives, ruling that although she found that the safe harbor provision of the Private Securities Litigation Reform Act (PSLRA) did not protect certain of the defendants’ alleged misstatements, in light of recent Ninth Circuit U.S. Court of Appeals precedent, her determinations were incorrect....