The 3rd U.S. Circuit Court of Appeals has upheld the dismissal of a class-action securities fraud suit against Advanta Corp. after finding that the plaintiffs failed to meet the heightened pleading requirements of the Private Securities Litigation Reform Act.

The opinion by U.S. Circuit Judge Anthony J. Scirica is required reading for lawyers who litigate securities cases because it provides an extensive analysis of the new law’s standards for proving when a corporation can be sued for making misleading statements.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

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]