Legal Opinion
Berson v. Applied Signal Technology, Inc.
Court of Appeals for the Ninth Circuit
Decided June 5, 2008No. 06-15454PublishedCited by 185 opinions
1Opinion of the Court
KOZINSKI, Chief Judge:
We consider whether plaintiffs adequately pled a claim of securities fraud— something that is much harder now than in days gone by.
Facts
Plaintiffs bought stock in Applied Signal Technology, Inc., during the six months before the company revealed that its revenue had fallen 25% from the preceding quarter. Immediately following this disclosure, the stock price dropped 16%. Plaintiffs sued the company and two of its officers under Securities Exchange Act § 10(b), 15 U.S.C. § 78j(b), and Rule 10b-5, 17 C.F.R. § 240.10b-5.
Applied Signal’s customers are almost all agencies of…
2Cases cited9 opinions
- Dura Pharmaceuticals, Inc. v. BroudoSupreme Court of the United States · 2005
- In Re Silicon Graphics Inc. Securities Litigation. Edmund J. Janas v. Edward R. McCracken Michael Ramsay Robert K. Burgess Thomas J. Oswald Teruyasu Sekimoto Forest Baskett Stephen Goggiano William M. Kelly Lucille Shapiro Silicon Graphics, Inc., Deanna Brody Andrea S. Donald Israel Buck Ruth Buck Denise Struthers Thomas G. Di Cicco Ira Steven B. Ewall Rosalyn Golaine Jerry Krim Mary Anne Beke Herman Grossman Samuel J. Reiner Dennis Lucas v. Edward R. McCracken Michael Ramsay Robert K. Burgess Thomas J. Oswald Teruyasu Sekimoto Forest Baskett Stephen Goggiano William M. Kelly Lucille Shapiro Silicon Graphics, Inc.Court of Appeals for the Ninth Circuit · 1999
- In Re Daou Systems, Inc., Securities Litigation, Greg Sparling Eugene Krabbenhoft Patrick De Kruyff, Esq. Robert Zaretsky Rod Ford Thomas v. Hagman Richard W. Walsh Richard Toribio Paul Rabin v. Georges Daou Daniel Daou Fred McGee Robert McNeill John Moragne Daou Systems, Inc., in Re Daou Systems, Inc., Securities Litigation, Greg Sparling Eugene Krabbenhoft Patrick De Kruyff, Esq. Robert Zaretsky Rod Ford Thomas v. Hagman Richard W. Walsh Richar Toribio Paul Rabin v. Georges Daou Daniel Daou Fred McGee Robert McNeill John Moragne, and Daou Systems, Inc.Court of Appeals for the Ninth Circuit · 2005
- Ronconi v. LarkinCourt of Appeals for the Ninth Circuit · 2001
- Jules Brody Joyce T. Crawford v. Transitional Hospitals Corporation Wendy L. Simpson Richard L. ConteCourt of Appeals for the Ninth Circuit · 2002
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3Cited by185 opinions
- Karim Khoja v. Orexigen Therapeutics, Inc.Court of Appeals for the Ninth Circuit · 2018
- In Re Gilead Sciences Securities LitigationCourt of Appeals for the Ninth Circuit · 2008
- Zucco Partners, LLC v. Digimarc Corp.Court of Appeals for the Ninth Circuit · 2009
- Metzler Investment GMBH v. Corinthian Colleges, Inc.Court of Appeals for the Ninth Circuit · 2008
- Reese v. BP Exploration (Alaska) Inc.Court of Appeals for the Ninth Circuit · 2011
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