11th Circ. Tosses Backdating Class Action V. Jabil

Law360, New York (January 20, 2010, 3:43 PM EST) -- The U.S. Court of Appeals for the Eleventh Circuit has affirmed the dismissal of a securities class action against Jabil Circuit Inc. for failing to meet heightened pleading standards under the Private Securities Litigation Reform Act.

On Tuesday, the appeals court upheld a decision by the U.S. District Court for the Middle District of Florida to dismiss a case brought by investors in Jabil against the company and its officers and directors in the wake of a backdating scandal.

Reviewing the case de novo, the Eleventh...
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