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Securities

Jan. 9, 2003

Court Weighs Suits Based on Rosy Forecasts That Go Bad

SAN FRANCISCO - The California Supreme Court appeared reluctant Tuesday to let stockholders sue for securities fraud on the ground that they had held onto their shares because of a misleading financial forecast.

By Peter Blumberg
Daily Journal Staff Writer
        SAN FRANCISCO - The California Supreme Court appeared reluctant Tuesday to let stockholders sue for securities fraud on the ground that they had held onto their shares because of a misleading financial forecast.
        A novel, common law tort theory affirmed...

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