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).

This content has been archived.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]