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This Week At The Ninth: Falsity And Fiduciaries - Litigation, Mediation & Arbitration


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This week, we examine a pair of Ninth Circuit decisions
addressing when opinions are materially false under securities law,
and what a plaintiff must plead to
 
establish
 
 
The Ninth Circuit holds that statements of opinion can be
materially false, and thus actionable under SEC Rule 14-a9, where
they convey misleading information about the speaker s basis
for holding that view.
The Panel:   Judges Fernandez,
Wardlaw, and Collins, with Judge Wardlaw writing the
opinion. 
Key highlight: 

Omnicare s elucidation of what
facts a statement of opinion may convey and the ....

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This Week at the Ninth: Trans Fat and Stolen Emails | Morrison & Foerster LLP - Left Coast Appeals


Panel: Judges Tashima, Wardlaw, and Pratt (S.D. Iowa), with Judge Tashima writing the opinion.
Key highlight: “We agree with McGee that these injuries, e.g., damage to one’s vital organs and permanent degradation of one’s cognitive abilities, would be sufficient to satisfy Article III standing for her non-UCL claims. We are not persuaded, however, that McGee has plausibly alleged that she suffered these injuries.”
Background: The plaintiff, Jacquelyn McGee, had bought and eaten Pop Secret brand popcorn. She then advanced a number of state-law claims against Pop Secret’s manufacturer, Diamond Foods, alleging that Pop Secret contained partially hydrogenated oil, or trans fat. The district court dismissed her complaint for failure allege Article III injury in fact. ....

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