9th Circ. Opinion Could Spark More Securities Settlements


Steve Thel was quoted in a Law360 article about an opinion by the U.S. Court of Appeals for the Ninth Circuit regarding a California federal court’s decision to dismiss an investor suit against now-bankrupt biotechnology company Orexigen Therapeutics Inc.

If the Ninth Circuit opinion causes lower courts to allow more cases to proceed beyond a motion to dismiss, it could lead to more settlements as well, said Steve Thel, a law professor at Fordham University. The likelihood of a settlement “substantially increases” if plaintiffs succeed on a motion to dismiss, he said.

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