Software Developer To 9th Circuit: Shareholders Failed To Show False Statements

Mealey's ( June 2, 2023, 11:02 AM EDT) -- SAN FRANCISCO — A software developer that saw a drop of stock prices one day after a merger with a former rival and reduced earnings projections and others filed an appellee brief in the Ninth Circuit U.S. Court of Appeals arguing that a securities fraud complaint by shareholders was properly dismissed with prejudice as the parties suing “failed to plead that any of the challenged statements were false.”...