9th Circ. Urged To Revive Investor Suit Over Omitted Deal Info

Law360 (April 7, 2021, 10:46 PM EDT) -- A proposed class of shareholders urged the Ninth Circuit to revive their allegations that Emulex Corp. provided incomplete information about a $606 million acquisition, saying the appeals court already found that a provision of the Exchange Act allows private plaintiffs to bring negligence claims.

The shareholders argued that a lower court was wrong to decide that Emulex and other defendants hadn't been negligent in leaving out certain information about the deal, but they also said the panel shouldn't reconsider something it had already decided: that Section 14(e) of the Exchange Act — which seeks to prevent fraudulent, deceptive or manipulative acts...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!