Although several circuit courts of appeal recently weighed in on requisite pleading standards for scienter under 1995 Private Securities Litigation Reform Act, none of those decisions altered court’s prior refusal to dismiss complaint.
A March 1999 decision holding that investors adequately pleaded scienter on the part of a corporation will not be revisited because no “new developments in the law” of this circuit warrant such reconsideration, the U.S. District Court for the Northern District of Illinois concluded Jan. 4 (In re NextLevel Systems Inc. Sec. Litig., N.D. Ill., No. 97 C 7362, 1/4/00).
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