Appeals Court Throws Back Leadis IPO Case

Law360, New York (April 22, 2008, 12:00 AM EDT) -- An appeals court has reversed and remanded a lower court's decision to dismiss a proposed securities class action that accused semiconductor maker Leadis Technology Inc. of misleading investors about its initial public offering.

In an order Friday, a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit decided 2-1 to throw the case back to the U.S. District Court for the Northern District of California after finding the lower court was wrong in deciding that the allegations – no matter how they were...
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