Judge Failed To Properly Consider Scienter Allegations In Dismissing, Panel Told

(August 11, 2022, 10:38 AM EDT) -- SAN FRANCISCO — A federal district court erred in dismissing shareholder claims against a manufacturer of products and services used in the study of health and disease and two of its senior executives who are alleged to have concealed that the company’s cytometry segment sales would not meet revenue expectations because the court improperly determined that “a lack of insider trading and a single small purchase of stock” by one of the defendants “undercut any inference of scienter,” the shareholder argues in a July 25 appellant brief filed in the Ninth Circuit U.S. Court of Appeals....