Legal Opinion
In Re Copper Mountain Securities Litigation
District Court, N.D. California
Decided March 30, 2004No. C-00-3894-VRWPublishedCited by 52 opinions
1Opinion of the Court
ORDER
WALKER, District Judge.
It is well-known that the Private Securities Litigation Reform Act (PSLRA) and FRCP 9(b) impose a particularity requirement in the allegation of securities fraud. This is especially important in the case of a complaint alleging open market fraud or fraud on the market, such as the complaint at bar.
The starting point for the particularity analysis is not the allegedly false or misleading statements of the defendants, but the truth that emerges from the market. An open market trades on different points of view of an issuer’s prospects. If all investors thought the…
2Cases cited43 opinions
- Conley v. GibsonSupreme Court of the United States · 1957
- Haines v. KernerSupreme Court of the United States · 1972
- Hughes v. RoweSupreme Court of the United States · 1980
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Leatherman v. Tarrant County Narcotics Intelligence and Coordination UnitSupreme Court of the United States · 1993
38 more not listed; retrieve them via the Exa API.
3Cited by52 opinions
- In Re Bare Escentuals, Inc. Securities LitigationDistrict Court, N.D. California · 2010
- In Re Amgen Inc. Securities LitigationDistrict Court, C.D. California · 2008
- City of Royal Oak Retirement System v. Juniper Networks, Inc.District Court, N.D. California · 2012
- In Re New CenturyDistrict Court, C.D. California · 2008
- Arkansas Public Employees Retirement System v. Harman International Industries Inc.Court of Appeals for the D.C. Circuit · 2015
47 more not listed; retrieve them via the Exa API.