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Posts tagged "Shareholder class action securities fraud adequate pleading misstatement scienter"

Federal District Court Holds One Adequately Pled Actionable Misstatement Sustains Shareholders' Class Action Securities Claim

The Rhode Island federal district court has held that one adequately pled actionable misstatement combined with an adequate pleading of scienter with respect to that misstatement is sufficient to defeat defendants' motion to dismiss a shareholders' class action securities fraud claim. The court said that "further narrowing of the plaintiffs' claims [will] await a later stage of the litigation."