Justices Drop Emulex Appeal Over Tender Offer Suits
Law360 (April 23, 2019, 10:28 AM EDT) -- The U.S. Supreme Court on Tuesday punted a decision about the appropriate standard for alleging false statements and omissions related to tender offers and whether private plaintiffs can bring such lawsuits at all.
The U.S. Supreme Court justices on Tuesday dropped a challenge over whether private plaintiffs have a right to bring lawsuits alleging false statements and omissions related to tender offers. (AP) In a one-sentence order, the justices dismissed as improvidently granted Emulex Corp.'s challenge to a Ninth Circuit finding that investors must show the company was merely being negligent rather than intentionally engaging in wrongdoing when it allegedly misled shareholders...
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