Appellee: Lack Of Falsity, Scienter Justified Dismissal Of Stock-Drop Claims

Mealey's (September 27, 2022, 1:57 PM EDT) -- SAN FRANCISCO — A federal district court did not err in dismissing shareholder claims against a manufacturer of products and services used in the study of health and disease and two of its senior executives who are alleged to have concealed that the company’s cytometry segment sales would not meet revenue expectations because a lead plaintiff failed to sufficiently plead both falsity and scienter in making its federal securities law claims, the manufacturer argues in an appellee brief filed in the Ninth Circuit U.S. Court of Appeals....