United States Ninth Circuit

Affirming the district court dismissal of a securities fraud action brought on behalf of a class of plaintiffs who bought SolarCity shares because, in their claims that the company violated the Securities Exchange Act in changing the company's accounting formula prior to public offering in order to misrepresent profitability, they failed to adequately plead facts to establish scienter, as required by the Private Securities Litigation Reform Act.

Appellate Information

• Published 2018/03/08

Judges

• SMITH

Court

• United States Ninth Circuit

Counsel