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Allegations of accounting mischief are subject to the same high pleading standards applied to other securities fraud cases, the 9th U.S. Circuit Court of Appeals ruled Friday. In upholding the dismissal of a class action, the court criticized the complaint in question as too vague. "The 102-page complaint rarely, if ever, sets forth a particularized basis to support the existence of these 'concealed facts,'" wrote Senior Judge William Canby Jr.
March 15, 2002 at 12:00 AM
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The original version of this story was published on Law.Com
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