United States Ninth Circuit

Under the Private Securities Litigation Reform Act, plaintiffs must show that principals were aware that overly optimistic claims were likely to be untrue in order to state a claim for fraud.

Appellate Information

• Argued 12/08/1999
• Decided 06/06/2001
• Published 06/06/2001

Judges

• KLEINFELD, Circuit Judge., Before:  JAMES R. BROWNING, RYMER, and KLEINFELD, Circuit Judges.

Court

• United States Ninth Circuit

Counsel

• For Appellant:
  
• Leonard B. Simon (argued) and Eric A. Isaacson (briefed), Milberg Weiss Bershad Hynes & Lerach LLP, San Diego, California, for the plaintiffs-appellants.


• For Appellees:
  
• Darryl Rains, Morrison & Foerster LLP, San Francisco, California, for the defendants-appellees.