Pomerantz Wins Ninth Circuit Reversal of Forescout Dismissal

On March 16, 2023, Pomerantz successfully argued for the reversal, in part, of the dismissal of its securities fraud class action against Forescout Technologies, Inc. and its senior officers (Glazer Capital Mgmt., L.P. v. Forescout Techs., Inc., No. 21-16876, 2023 U.S. App. LEXIS 6285 (9th Cir. Mar. 16, 2023)). In a 2-1 decision, the Ninth Circuit held that Forescout investors can proceed with litigation alleging securities fraud arising from allegations that the defendants misled investors about the current strength of the company’s sales pipeline to falsely support a bullish guidance and otherwise justify poor financial results when the company repeatedly failed to meet its touted objectives The decision secured by Pomerantz sets important precedents that expand investor…