Investors: Dismissal Of Claims For Failure To Plead Falsity, Scienter Was Wrong

(October 14, 2022, 11:05 AM EDT) -- SAN FRANCISCO — A federal district court erred in dismissing shareholder claims brought against a Chinese operator of livestreaming platforms and three of its current and former senior executives in a securities class action lawsuit alleging that the defendants misrepresented the business and financial condition of one of its livestreaming platforms in anticipation of a acquisition agreement with another company because the shareholders sufficiently alleged falsity and scienter in bringing their claims, the shareholders argue in an appellant brief filed in the Ninth Circuit U.S. Court of Appeals....