9th Circuit Revives Applied Signal Shareholder Suit

Law360, New York (June 5, 2008, 12:00 AM EDT) -- Shareholders of Applied Signal Technology Inc. can push on with their securities suit after winning a petition to overturn a court's dismissal of their case against the military contractor.

The U.S. Court of Appeals for the Ninth Circuit on Wednesday reversed a decision by a district judge to toss the action, saying the plaintiffs had adequately pled their case.

Presenting the opinion of the appeals court, Judge Alex Kozinski said four former Applied Signal employees were willing to testify in support of the plaintiffs' claims, and...
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