Mealey's (August 22, 2022, 10:36 AM EDT) -- PHILADELPHIA — A federal district court erred in ruling that shareholders violated Federal Rule of Civil Procedure 11 and the Private Securities Litigation Reform Act of 1995 (PSLRA) in asserting claims for violation of Section 12 of the Securities Act of 1933 against the managing partner of an investment company because those claims were not filed “for an improper purpose,” investors argue in an Aug. 19 reply brief filed in the Third Circuit U.S. Court of Appeals....