Roundup: 2nd, 7th, 8th and 11th Circuits

Securities Act claims to have more stringent pleading standards; Racial bias in class actions defined; Monopoly claims must have price-based proof; FLSA plaintiffs may not always recover attorney fees.

2nd Circuit: Securities Act claims to have more stringent pleading standards

The 2nd Circuit ruled Aug. 23 in Fait v. Regions Financial Corp. that statements of opinion are not actionable under strict liability provisions of securities laws unless plaintiffs allege that defendants didn’t believe the statements they made.

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