Oracle Dismissal Reversed On Appeal

In a high-profile securities class action brought against Oracle Corp., the U.S. Court of Appeals for the Ninth Circuit has reversed the lower court’s decision to dismiss the case with prejudice. The issue on appeal was whether the plaintiffs had plead a strong inference of scienter (i.e., fraudulent intent) as required by the PSLRA. The decision can be found here and The Recorder has an article (via law.com – free regist. req’d) summarizing the holding.

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