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The 9th U.S. Circuit Court of Appeals has taken the unusual step of reinstating a securities fraud case, signaling in clear terms that it has its eye on the recent torrent of Wall Street swindles. The panel ruled Thursday that a trade union should be allowed to argue that America West Airlines officials deferred routine maintenance on airplanes to improve the company's bottom line, all while engaging in insider trading.
February 18, 2003 at 12:00 AM
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The original version of this story was published on Law.Com
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