Tag Archives: Securities

Allegations don’t establish intent to deceive (access required)

Various statements by a contractor related to its performance on a contract (estimated to be worth over $100 million) were optimistic or maybe even false, but the plaintiff’s allegations did not sufficiently allege executives’ scienter, i.e. a motive to deceive ...

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EDVA: Company could be liable for employee fraud (access required)

Although the Plaintiffs did not state a § 10(b) claim against any individual corporate officers, false statements by a company’s lower-level employees could be attributed to the company itself if employees made those statements with the intent to provide false ...

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4th Cir.: Medical reimbursement scheme was material omission (access required)

Investors’ complaint against a medical device company sufficiently alleged violations of § 10(b) of the Securities Exchange Act, claiming that the company’s officers knowingly misrepresented material facts constituting a fraud on the market. Background Appellee TranS1 received approval in 2004 ...

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Consolidated Securities Fraud Action – Appointment of Lead Plaintiff – Conflict of Interest (access required)

Alexander Rice, Individually and on behalf of all other similarly situated, et al., v. Genworth Financial Incorporated, et al. (VLW 017-3-428, 36pp.) (Robert E. Payne, S.J.) 3:17cv59; E.D. Va. Two motions in a consolidated securities fraud action seek appointment as ...

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Court Upholds SEC Administrative Enforcement (access required)

A district court did not err in dismiss­ing on jurisdictional grounds plaintiff financial services firm’s challenge to the constitutionality of an administrative enforcement proceeding the Securities and Exchange Commission brought against her; the 4th Circuit joins the 2nd, 7th, 11th ...

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Alternate Lead Plaintiff OK’d in Securities Case (access required)

In this securities fraud class action, the Alexandria U.S. District Court will not exempt an institutional investor with the largest loss from the Private Securities Litigation Reform Act’s requirement that a securities fraud plaintiff may serve as lead plaintiff in ...

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