Inside The 9th Circ. Stance On In Re Century Aluminum

Law360, New York (January 17, 2013, 1:12 PM EST) -- Recently, the Ninth Circuit Court of Appeals affirmed the dismissal of a lawsuit filed pursuant to Section 11 of the Securities Act of 1933 (the "1933 Act"). Section 11 provides for claims involving false or misleading statements made in securities offerings.

Though more limited in scope than Section 10(b)/Rule 10b-5 claims for securities fraud, Section 11 plaintiffs — at least until now — have faced far lower pleading thresholds. Through a strict application of the Twombly/Iqbal pleading requirements, the Ninth Circuit has now made it "often...
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