Two Trump-appointed circuit judges don’t think much of shareholder class actions

(Reuters) – Last week, a three-judge panel of the 9th U.S. Circuit Court of Appeals issued a significant decision in a shareholder class action against BofI, a bank holding company. The appeals court, in an opinion by Judge Paul Watford, revived a class action alleging, among other things, that the bank’s share price plunged in response to disclosures in a whistleblower lawsuit. The 9th Circuit joined the 6th Circuit to conclude that a whistleblower complaint containing allegations from a corporate insider can serve as a “corrective disclosure” of the company’s misstatements. If the market perceives the whistleblower’s allegations to be true and reacts accordingly, the appeals court held, shareholders can base their loss causation arguments on the filing of the lawsuit.

Judge Mark Bennett, who was nominated to the 9th Circuit by President Donald Trump and assumed office in July 2018, dissented from that part of the 9th

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Trump makes bold claims about his own health as returns to the Fox interview circuit

President Donald Trump returned to form on Thursday morning, engaging in a freewheeling, 55-minute interview on Fox Business in which he made bold claims about his health and coronavirus in general just days after announcing he had contracted the deadly disease.

The president, his voice steady but slightly raspy, even boasted that he was in shape to stage one of his marathon political rallies — if he was allowed to hold one.

“First of all, I think I’m better, to a point where I’d love to do a rally tonight,” Trump said in an interview with Maria Bartiromo. “I wanted to do one last night,” he said.

Trump, who at 74 years and clinically obese is at an elevated risk of serious complications from Covid-19, has repeatedly said he feels better than he has in 20 years. On Thursday, he said he feels “perfect” and “there’s nothing wrong.”

Using a

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