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Circuit Deals Blow to Stock Fraud Cases
Handing technology companies and others a huge victory in their running battle with plaintiffs' attorneys, the 9th Circuit U.S. Court of Appeals on Friday made it much more difficult for disgruntled shareholders to sue corporations when their stock price drops. The divided court ruled that in order to sue for stock fraud, plaintiffs must show that corporate officers were "deliberately reckless" in making optimistic financial forecasts, even when those forecasts turn out to be severely wrong.Before: Pooler and Hall, C.JJ., and Trager, D.J.1 U.S. COURT OF APPEALS SECOND CIRCUIT Merrill G. Davidoff (Ruthanne Gordon, Charles P. Goodwin, and David A.
Anti-Viral: Profile of McAfee GC
General Counsel Mark Cochran of well-known anti-virus software maker McAfee created and manages a 20-person license compliance unit that generates revenues of about $35 million annually. "It's nice being known as a lawyer who is a profit center rather than a cost center," he said.Silicon Valley Pioneer Folds Office
Brown & Bain, once one of the Silicon Valley's leading intellectual property litigation firms, is closing its Palo Alto office at the end of July. The decision, which comes after years of setbacks for the office, ends a 20-year run in the Valley for a firm that waged landmark IP wars on behalf of Apple Computer Inc. and Intel Corp.After Patent Reform, MDL Docket Emerges as New Arena for Patent Fights
In a dispute that provides a case study in patent litigation after the enactment of the America Invents Act, lawyers for a patent holder suing major tech firms are fighting to get cases that were sent to the defendants' home jurisdictions transferred back to the Eastern District of Texas—but this time designated as multidistrict litigation.
The Justice Department has suffered consecutive setbacks in an economic espionage case against four Chinese companies because they have no U.S. employees to serve with a summons, and no U.S. office where one can be mailed. That's why the department is hoping to eliminate certain requirements for service on foreign businesses.
The full case caption appears at the end of this opinion.O' SCANNLAIN, Circuit Judge: In this case involving the intersection of computer technology, the Int
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