Plaintiffs Fail to Allege Facts of Purposeful Deceit

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Allegations that the directors of a technology company inflated the firm’s business prospects and understated its potential liabilities will not support a claim for securities fraud because the plaintiffs did not sufficiently allege that the directors knew these projections were false when made.

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Published In: Business Organization Updates, Civil Procedure Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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