Panel:  Expert, Short-Seller Report Insufficient To Support Finding Of Falsity

Mealey's (May 10, 2023, 1:40 PM EDT) -- SAN FRANCISCO — Shareholders’ reliance on a short seller report and evidence provided by their expert was insufficient to support their allegation of falsity in pleading their claims against a Chinese operator of livestreaming platforms and three of its current and former senior executives in a securities class action and, thus, a federal district court did not err in dismissing those claims for failure to plead any actionable misstatement or omission, a Ninth Circuit U.S. Court of Appeals panel ruled May 9 in affirming in a memorandum opinion....