9th Circ. Nixes InVision Shareholders' Class Bid

Law360, New York (December 1, 2008, 12:00 AM EST) -- An appeals court has dashed investors' hopes of mounting a class action against InVision Technologies Inc., affirming the lower court’s decision to toss the suit for failing to meet the pleading requirements for securities fraud.

Judges J. Clifford Wallace, Susan P. Graber and George P. Schiavelli of the U.S Court of Appeals for the Ninth Circuit on Wednesday echoed the district court, holding that InVision, which makes equipment that detects explosives, did not deliberately mislead investors in advance of a 2004 merger with General Electric Co....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.