Perspective
Oct. 31, 2015
Can a corporation be liable for being a victim of fraud?
A recent 9th Circuit decision could have unintended consequences when it comes to securities fraud claims. By Charles Elder, Colin Thompson, and John Long
Last week, a three-judge panel of the 9th U.S. Circuit Court of Appeals held that a corporate victim of fraud may be held liable to its own investors for the very same fraud. The panel in In re ChinaCast Education Corporation Securities Litigation, 2015 DJDAR 11710 (Oct. 23, 2015), said the plaintiffs did state a claim for securities fraud against ChinaCast, an "e-learning" company, based on a...
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