Securities – Lack of scienter dooms fraud claims (access required)

Where shareholders alleged they purchased shares of a technology company at inflated prices because corporate officers made materially misleading statements about the company’s financial health, their suit was dismissed because there was insufficient evidence of scienter. Background Plaintiffs appeal the dismissal of their class action suit alleging securities fraud under the Securities Exchange Act of 1934 and ...

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South Carolina Lawyers Weekly

Securities – Lack of scienter dooms fraud claims

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