Finance Data Suit Tossed Prematurely, High Court Hears

Law360, New York (January 14, 2013, 4:27 PM EST) -- A cleaning supplies exporter is urging the U.S. Supreme Court to revive a proposed class action alleging a financial communications service disclosed sensitive banking information to a CIA-run counterterrorism operation, saying the Second Circuit unfairly demanded probable evidence of wrongdoing instead of plausible evidence.

The Dec. 26 petition from Amidax Trading Group says the appeals court misapplied a pair of landmark Supreme Court decisions on pleading standards — Ashcroft v. Iqbal and Bell Atlantic v. Twombly — by requiring excessive amounts of detail at an early...
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