9th Circ. Affirms Toss of Foxhollow Shareholder Action

Law360, New York (December 7, 2009, 7:14 PM EST) -- A federal appeals court has affirmed the dismissal of a putative securities class action against medical device maker Foxhollow Technologies Inc. brought by a shareholder who alleged the company misrepresented its personnel philosophy and plans.

The U.S. Court of Appeals for the Ninth Circuit on Friday affirmed the district court's dismissal of a suit filed by shareholder Matthew Roberts, finding that the company's statements about its personnel were not false and misleading.

Roberts lodged his suit against the company in July 2006 in the U.S. District...
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