Janus Doesn't Apply To Schwab Execs' Fraud Case: Judge

Law360, New York (August 2, 2011, 8:10 PM EDT) -- The U.S. Supreme Court's decision in Janus doesn't apply to securities laws at issue in the U.S. Securities and Exchange Commission's suit against two Charles Schwab & Co. Inc. executives, a California federal judge ruled Monday.

U.S. District Judge William Alsup said the high court's June 13 decision in Janus Capital Group Inc. v. First Derivative Traders — which the Ninth Circuit has said sets "the pleading bar even higher in private securities fraud actions seeking to hold defendants primarily liable for the misstatements of others"...
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