United States Ninth Circuit

In a securities fraud action claiming defendant-biopharmaceutical company misled the investing public by representing that demand for its most popular product was strong without disclosing that unlawful marketing was the cause of that strength, dismissal of the suit is reversed where, contrary to the ruling below, investors sufficiently alleged loss causation and economic loss.

Appellate Information

• Argued 12/06/2007
• Decided 08/11/2008
• Published 08/11/2008

Judges

• MICHAEL DALY HAWKINS, Circuit Judge:, Before:  ALEX KOZINSKI, Chief Judge, HAWKINS, and ROBERT E. COWEN, Circuit Judges.

Court

• United States Ninth Circuit

Counsel

• For Appellant:
  
• Susan K. Alexander (briefed and argued), Lerach, Coughlin, Stoia, Geller, Rudman & Robbins LLP, San Francisco, CA, for the plaintiffs-appellants.


• For Appellees:
  
• John C. Dwyer (briefed and argued), Grant Fondo and Jeffrey M. Kaban (appeared only), Cooley, Godward, Kronish, LLP, Palo Alto, CA, for the defendants-appellees.