Appeals Court Vacates Securities Class Action Decision

Law360, New York (September 19, 2006, 12:00 AM EDT) -- The U.S. Court of Appeals for the Eleventh Circuit ruled Monday that a securities lawsuit against a pharmaceutical company was so deficient that the district court should have ordered a repleading.

“Given the district court's proper conclusions that the complaint was a shotgun pleading and that the plaintiffs failed to connect their causes of action to the facts alleged, the proper remedy was to order repleading,” the court said in its decision to remand the case.

The initial class action was filed in August 2002 against...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.