“Plaintiffs contend that the media’s reaction to news of the regulatory investigations and Defendants’ statement in response to the DFEH Action 'belies any notion' that the regulatory investigations were ordinary or routine. But such allegations constitute 'fraud-by-hindsight' and absent particularized, temporal facts, are insufficient to support a claim of securities fraud,” wrote Judge Percy Anderson of the US District Court of the Central District of California.
Spacer Review 2022 – How Much Can You Make?
May 30, 2022
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