9th Circ. Revives VeriFone Stock Inflation Suit

Law360, New York (December 21, 2012, 10:58 PM EST) -- The Ninth Circuit on Friday revived a consolidated securities class action accusing point-of-sale equipment maker VeriFone Holdings Inc. and its chief officers of artificially inflating the company's stock price, ruling the facts in the complaint on the whole support allegations of willful recklessness.

The appeals court panel reversed a March 2011 ruling by U.S. District Judge Marilyn Hall Patel that dismissed the group of nine class actions against VeriFone, its former supply chain controller Paul Periolat and officers including CEO Douglas Bergeron and former Chief Financial...
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