Law360, New York (November 28, 2007, 12:00 AM EST) -- After five years of litigation, the plaintiffs in a securities case against optical components maker JDS Uniphase learned the hard way that a drop in stock price doesn't necessarily mean a fraud has taken place. A jury's unanimous verdict found the company and its executives not guilty of securities fraud.
The case, decided on Tuesday by a jury in the U.S. District Court for the Northern District of California, centered on allegations made in 2001 the wake of the burst tech bubble.
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.