United States Third Circuit

Affirming the dismissal of a shareholder suit against a medical device company that terminated its relationship with one of its distributors, resulting in a decline in revenue and subsequent drop in stock value because the failure to disclose the company decision to terminate the distributor contract and issue revenue projections that accounted for the impact of the decision were not violations of the Securities Exchange Act and did not constitute fraud.

Appellate Information

• Published 2017/08/23

Judges

• SCIRICA

Court

• United States Third Circuit

Counsel