United States Ninth Circuit
Retail Wholesale & Department Store Union Local 338 Retirement Fund v. Hewlett-Packard Co., 14-16433
Read Retail Wholesale & Department Store Union Local 338 Retirement Fund v. Hewlett-Packard Co., 14-16433
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In a securities fraud action brought under the Securities Exchange Act of 1934 by shareholders alleging that the company CEO and chairman violated the corporate code of ethics after publicly touting the business's high standards for ethics and compliance, the district court's dismissal is affirmed where shareholders failed to state a claim for securities fraud because they failed to sufficiently allege that the defendants made a material misrepresentation or misleadingly omitted a material fact.
Appellate Information
- Published 2017/01/19
Judges
- CHRISTENSEN
Court
- United States Ninth Circuit