Marketing Co. Lied About NASDAQ Plans: Ninth Circuit

Law360, New York (November 26, 2007, 12:00 AM EST) -- A federal appeals court has found that a Canadian direct marketing firm misled investors in a securities class action about its plans to list company stock on a national exchange following a 2002 merger deal.

Monday’s ruling by the U.S. Court of Appeals for the Ninth Circuit reversed and remanded a lower court’s decision that privately held Thane International Inc. did not misrepresent its promise to list shares on the NASDAQ or another national exchange once it acquired Reliant Interactive Media Corp., a publicly traded direct...
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