Pleading scienter for individual defendants is not always required to support a showing of corporate scienter in a securities fraud class action, the Second U.S. Circuit Court of Appeals ruled last week.
The circuit rejected an argument that it adopt such a rule as a pleading requirement under the Private Securities Litigation Reform Act.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]