Courts in the financial center of New York and the tech hotspot of California tend to be where much of the headline grabbing securities law action usually takes place. But this week, the most significant action is in Washington, D.C., as the Supreme Court and Congress are weighing into several of the hottest topic under
Iqbal
Ninth Circuit Reverses Matrixx Securities Suit Dismissal, Concludes Twombley and Tellabs Satisfied.
By Kevin LaCroix on
Posted in Securities Litigation
In an October 28, 2009 opinion (here) in a case in which the Ninth Circuit found the plaintiffs’ allegations met the heightened pleading standards of Twombley and Tellabs, the appellate court reversed the district court’s dismissal of the plaintiffs’ complaint in the Matrixx Initiatives securities class action lawsuit. The decision is…
The Iqbal Case and Damages Actions under the Federal Securities Laws
By Kevin LaCroix on
Posted in Securities Litigation
The Supreme Court’s decision in the Iqbal case earlier this year has generated a great deal of controversy and comment and even a proposal to overturn the decision legislatively. Iqbal does seem to be having an impact on a number of cases. An interesting question, however, is whether the Iqbal case will have an impact…