4th Circ. Revives BearingPoint Shareholder Action

Law360, New York (August 4, 2009, 4:19 PM EDT) -- A securities class action against bankrupt technology consulting firm BearingPoint Inc. has been given a second life by a federal appeals court, more than a year and a half after the case was tossed for failing to reach the pleading bar established by the U.S. Supreme Court's Tellabs ruling.

The U.S. Court of Appeals for the Fourth Circuit on Friday agreed that the shareholders' case had inadequately pled scienter under the heightened standard, but ruled that the U.S. District Court for the Eastern District of Virginia...
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