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9th Circ. Gives LifeLock Securities Fraud Suit Second Wind

New IdentityTheft Scam

Law360 (July 11, 2019, 1:56 PM EDT) — A Ninth Circuit panel has largely revived a securities fraud suit brought by two Oklahoma pension funds against LifeLock Inc., finding they adequately alleged the identity protection company knowingly made misrepresentations to investors about the speed of theft notifications.

The three-judge panel on Wednesday reversed most of an Arizona district court’s dismissal of the case, but affirmed the tossing of all claims against the company’s former chief financial officer, Chris Power, because the allegations did not connect him to the purported fraud, according to the filing.

The Oklahoma Police Pension and Retirement System and the Oklahoma Firefighters Pension and Retirement System…

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Source: on 2019-07-11 14:00:00

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