Panel Upholds Rule 11 Violation Finding Against Investors In Securities Suit

Mealey's (April 6, 2023, 1:48 PM EDT) -- PHILADELPHIA — A federal district court did not abuse its discretion in determining that shareholders violated Federal Rule of Civil Procedure 11 in bringing their securities law claims against a securities trading company and certain of its senior executives or in concluding that one of the executives was not entitled to attorney fees as a sanction, a Third Circuit U.S. Court of Appeals panel ruled April 5....