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A Balanced Decision in Tellabs? |
September 16, 2009
Previously published by The Advocate for Institutional Investors, Second Quarter 2007 on July 2007
On June 21, 2007, the United States Supreme Court issued a decision in Tellabs, Inc. v. Makor Issues & Rights Ltd., which is not nearly as harmful to investor rights as early media reports
have portrayed. In Tellabs, the Supreme Court interpreted the pleading standard that plaintiffs in securities fraud cases must satisfy under the Private Securities Litigation Reform Act of 1995 (¿PSLRA¿) with respect to scienter, that is, defendants¿ fraudulent state of mind.
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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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