11th Circ. Won't Rehear MIVA Shareholder Action

Law360, New York (January 20, 2012, 8:22 PM EST) -- The Eleventh Circuit on Thursday refused to reconsider its ruling that a class of MIVA Inc. shareholders can hold the online advertising company liable for making statements that allegedly inflated MIVA's stock beyond an already-exaggerated price.

In a one-page ruling, the three-judge panel denied MIVA's petition to rehear the case and to rehear it en banc, keeping in place a Sept. 30 decision vacating and remanding part of a lower court's dismissal of the suit. MIVA — previously known as FindWhat.com — had fought the ruling in an...
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