United States Ninth Circuit

Dismissal of a securities fraud action against Nvidia Corporation and other defendants under sections 10(b) and 20(a) of the Securities Exchange Act and Securities Exchange Commission Rule 10b-5 is affirmed, where: 1) the district court did not err by failing to consider plaintiffs' allegations of scienter in the context of Item 303 of Regulation S-K, C.F.R. section 229.303, because Item 303's disclosure duty is not actionable under section 10(b) and Rule 10b-5; and 2) none of the plaintiffs' allegations of scienter created a strong inference of scienter individually or holistically.

Appellate Information

• Decided 10/02/2014
• Published 10/02/2014

Judges

• O'Connell

Court

• United States Ninth Circuit

Counsel