The U.S. Court of Appeals for the Second Circuit and the U.S. District Court for the Southern District of New York. (Photo: Ken Lund)
In a split decision, the panel's majority reversed and remanded a securities suit dismissed over standing issues after the investors in the company were bought out during the litigation.
October 02, 2018 at 05:18 PM
1 minute read
The U.S. Court of Appeals for the Second Circuit on Tuesday revived a shareholder’s securities lawsuit, reversing a district judge’s decision to throw out the case after holding standing was destroyed by the company’s sale.
The Second Circuit called the matter a case of mistaken standing.
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