United States Ninth Circuit

Reversed in part the dismissal of a securities fraud class action alleging that a biotechnology firm misrepresented to investors the status of a clinical drug trial. An investor brought this suit contending that the company and certain top executives violated Section 10(b) of the Securities Exchange Act of 1934. On appeal, the Ninth Circuit held that the district court erred in part in dismissing the complaint for failure to state a claim. The panel also ruled that the district court abused its discretion in judicially noticing certain facts and in incorporating certain documents into the complaint.

Appellate Information

• Published 2018/08/13

Judges

• Tashima

Court

• United States Ninth Circuit

Counsel