United States Ninth Circuit
Strategic Diversity, Inc. v. Alchemix Corp., 10-15256
In an appeal from an order of the district court dismissing plaintiff's Section 10(b) complaint on summary judgment, order is: 1) affirmed where plaintiff failed to carry its prima facie burden because a plaintiff suing under section 10(b) for rescission must demonstrate economic loss and must also demonstrate that the misrepresentation or fraudulent conduct caused the loss; but 2) reversed where plaintiff could be entitled to relief of a rescissionary measure of damages basis.
Appellate Information
- Decided 12/02/2011
- Published 12/02/2011
Judges
- HUG
Court
- United States Ninth Circuit