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9th Circ. Splits From Similar Rulings On Tender Offer Suits

Law360 (April 20, 2018, 8:17 PM EDT) -- Departing from circuit court rulings in five similar cases, the Ninth Circuit on Friday reversed a lower court's dismissal of a putative securities class action alleging Emulex Corp. concealed that Avago Technologies Ltd.'s $606 million acquisition offer was too low, holding that the investors’ claims require a showing of negligence rather than intentional wrongdoing.

A three-judge panel of the appeals court overturned a California federal judge’s 2016 finding that dismissed the suit on the grounds that Emulex shareholders needed to show scienter, or that the telecommunications company...
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Case Information

Case Title

Gary Varjabedian v. Emulex Corp., et al

Case Number



Appellate - 9th Circuit

Nature of Suit

3850 Securities, Commodities, Exchange

Date Filed

January 19, 2016

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