{
  "id": "RS22038",
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      "id": 303968,
      "date": "2005-05-11",
      "retrieved": "2016-04-07T19:45:08.744029",
      "title": "Securities Fraud: Dura Pharmaceuticals, Inc. v. Broudo",
      "summary": "On June 28, 2004, the United States Supreme Court granted certiorari in the case  Dura\nPharmaceuticals, Inc. v. Broudo , appealed from the United States Court of Appeals for the Ninth\nCircuit.\n The case concerns allegedly false statements made by Dura to its shareholders concerning\ndevelopment and marketing of two of its products: an asthma inhaler and asthma antibiotic. \nPlaintiffs charge that the company knowingly defrauded investors by making overly optimistic\nstatements about product approval and company earnings.\n The district court held that plaintiffs had not satisfied the requirements for bringing an antifraud\ncase under section 10(b) of the Securities Exchange Act of 1934. The court of appeals stated that\nthe district court erred in applying the federal law for pleading a securities fraud case and reversed\nand remanded the judgment of the district court. The United States Supreme Court heard oral\nargument on January 12, 2005. On April 19, 2005, the Supreme Court reversed the decision of the\ncircuit court and held that an accusation that a company\u2019s misrepresentations caused an\ninflated share\nprice was insufficient as a basis for a lawsuit.",
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    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc816929/",
      "id": "RS22038_2005Feb01",
      "date": "2005-02-01",
      "retrieved": "2016-03-19T13:57:26",
      "title": "Securities Fraud: Dura Pharmaceuticals, Inc. v. Broudo",
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      "typeId": "REPORT",
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  "topics": [
    "American Law"
  ]
}