Falsity, Scienter Allegations Overlooked By District Court, 9th Circuit Told

Mealey's (March 15, 2022, 1:47 PM EDT) -- SAN FRANCISCO — A federal district court erred in dismissing shareholder claims in a securities class action against a cybersecurity services provider and two of its senior executives on allegations that the defendants misrepresented and failed to disclose that the company would not be able to meet its revenue expectations because the district court “overlooked key factual allegations” in support of the shareholders’ falsity and scienter allegations, the shareholders argue in a March 14 appellant brief filed in the Ninth Circuit U.S. Court of Appeals....