X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Before Lynch, Chief Judge, Howard, Circuit Judge, and DiClerico, *fn1 District Judge.

This securities fraud class action raises one type of question under the category of questions about whether plaintiff investors have pled facts supporting a strong inference that defendants acted with scienter under the Private Securities Litigation Reform Act of 1995 (PSLRA), Pub. L. 104-67, 109 Stat. 737.

The dispute here is not about whether the facts alleged support the inference that the defendants knew of certain undisclosed facts during the class period. We addressed that type of scienter question in New Jersey Carpenters Pension & Annuity Funds v. Biogen Idec Inc., 537 F.3d 35, 44 (1st Cir. 2008). Rather, the question here is whether there is a strong inference that the defendants’ failure to disclose certain facts was a result of wrongful intent, or scienter, even assuming defendants knew of those facts. Answering this question involves an inquiry into the relationship between scienter and the materiality of the undisclosed information. We affirm the district court’s dismissal of this action for failing to meet the “strong inference” of scienter standard set forth in the PSLRA.

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

More From ALM

Premium Subscription

With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now

Team Accounts

Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now

Bundle Subscriptions

Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now

Global Leaders in Consulting (GLC) 2023

February 16, 2023
London

The Global Leaders in Consulting awards are for those who are making a big impression within the industry, but also worldwide.


Learn More

Complex Claims & Litigation Forum 2023

February 27, 2023 - March 01, 2023
Henderson, NV

Aimed to help Insurers prevent, prepare and prevail In adjudicating complex claims, negotiating settlements and winning cases.


Learn More

Women, Influence & Power in Law UK Awards 2023

March 08, 2023
London

Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession.


Learn More

ASSOCIATE: Accessibility / Employment Litigation


The New York office of Epstein Becker & Green is seeking an attorney to work at the level of a mid-level or senior associate to join its...


Apply Now ›

MID-LEVEL ASSOCIATE: Traditional Labor


The Los Angeles office of Epstein Becker & Green is seeking an attorney to work at the level of a mid-level associate in its growing nat...


Apply Now ›

MID-LEVEL or SENIOR ASSOCIATE: Labor & Employment Litigation


The Newark office of Epstein Becker & Green is seeking an attorney to work at the level of a mid-level or senior associate in its growin...


Apply Now ›

POND LEHOCKY STERN GIORDANO

01/26/2023
TLI Web

Pond Lehocky Giordano LLP would like to congratulate Jerry Lehocky and his team on PA's largest workers' compensation settlement.


View Announcement ›

ABOTA NNJ

01/23/2023
NJLJ Web

ABOTA NNJ would like to announce...


View Announcement ›

O'BRIEN FIRM

01/18/2023
TLI Web

O'BRIEN FIRM would like to announce that..


View Announcement ›