The Second Circuit recently issued an important decision in Teamsters Local 445 Freight Div. Pension Fund v. Dynex Capital Inc., 531 F.3d 190 (2d Cir. 2008) (“Dynex“), which has significant implications for securities class action litigation and the continuing fallout from the crisis in the credit markets.
Second Circuit Addresses Collective Scienter
The Second Circuit recently issued an important decision in <i>Teamsters Local 445 Freight Div. Pension Fund v. Dynex Capital Inc.,</i> which has significant implications for securities class action litigation and the continuing fallout from the crisis in the credit markets. The decision addressed the issue of collective scienter, or whether a corporation can commit securities fraud when none of its individual agents acted with fraudulent intent.
By
Edward J. Fuhr, Terence J. Rasmussen, And Steven M. HaasThis premium content is locked for LawJournalNewsletters subscribers only
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