Ninth Circuit Holds That Optimistic Statements & “Poor Business Decisions” Fail to Satisfy PLSRA’s Heightened Pleading Standards

A can of Jones cream soda
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The Ninth Circuit, in an unpublished opinion, held that plaintiffs in a securities fraud class action failed to meet the PSLRA’s heightened pleading requirements where the complaint did not contain factual allegations sufficient to demonstrate that the Defendants’ statements regarding a marketing initiative were untrue.  In re Jones Soda Company Securities Litigation, No. 09-35732, 2010 WL 3394274 (9th Cir. Aug. 30, 2010). Read the rest of this entry »