Legal Opinion
Acticon AG v. China North East Petroleum Holdings Ltd.
Court of Appeals for the Second Circuit
Decided August 1, 2012No. Docket 11-4544-cvPublishedCited by 73 opinions
1Opinion of the Court
STRAUB, Circuit Judge:
This case requires us to consider whether the fact that a stock’s share price recov ered soon after the fraud became known defeats an inference of economic loss in a securities fraud suit. Plaintiff-Appellant Acticon AG (“Acticon”) is the lead plaintiff in a consolidated putative class action suit against China North East Petroleum Holdings Limited (“NEP”) brought pursuant to §§ 10(b) & 20(a) of the Securities Ex-’ change Act of 1934, 15 U.S.C. §§ 78j(b) & 78t(a), and under SEC Rule 10b-5, 17 C.F.R. § 240.10b-5. Acticon alleges that NEP misled investors about its…
2Cases cited19 opinions
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3Cited by73 opinions
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