Law360 (April 12, 2011, 7:54 PM EDT) -- The Ninth Circuit on Tuesday affirmed a decision to dismiss a securities class action that accused Gaming Partners International Corp. and its executives of lying about the viability of its gaming chip circuit product.
GPI claimed the plaintiffs failed to properly allege a cause of action, an argument supported by the U.S. District Court for the District of Nevada and the U.S. Court of Appeals for the Ninth Circuit.
“None of the identified statements about GPI’s products and business prospects are misleading,” the appeals court said....
9th Circ. Tosses Chip Co. Investors' Fraud Action
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