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…

Pomerantz Achieves Major Victory for BofI Investors

Pomerantz LLP won a major victory for investors when the Ninth Circuit Court of Appeals reversed, in part, the district court’s dismissal of a securities fraud class action against BofI Holding, Inc., now known as Axos Financial Inc., on loss causation grounds. BofI, short for Bank of Internet, operated as the holding company for BofI Federal Bank, now known as Axos Bank. Pomerantz is lead counsel in this litigation, in which it is alleged that BofI misled investors by misrepresenting and omitting material information in their public statements…