On April 20, 2018, the Court of Appeals for the Ninth Circuit split from five other circuit courts in Varjabedian v. Emulex Corp., No. 16-55088 (9th Cir. Apr. 20, 2018), by holding that claims under Section 14(e) of the Securities Exchange Act of 1934 require only a showing of negligence rather than intent to defraud.

Read the full memo, Attention Forum Shoppers! Blue Light Special in the Ninth Circuit!

Special thanks to Brian Lee, associate in the New York Corporate Group, for his assistance with this article.