Securities Fraud Actions Just Got Harder In 9th Circ.

Law360, New York ( December 23, 2014, 11:11 AM EST) -- On Dec. 16, 2014, the U.S. Court of Appeals for the Ninth Circuit issued its decision in Oregon Public Employees Retirement Fund v. Apollo Group Inc., No. 12-16624, __F.3d __ (9th Cir. Dec. 16, 2014), holding for the first time that the heightened pleading standards of Federal Rule of Civil Procedure 9(b) apply to all elements of a securities fraud action, including loss causation. The court's decision will likely make it more difficult for actions alleging securities fraud to survive the motion to dismiss stage within the Ninth Circuit....

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