Klin v. Cloudera, Inc. (In re Cloudera, Inc. Securities Litig.) (9th Cir. 2024) 121 F.4th 1180
Falsity is a key element of a claim under Securities Act section 11 and Securities Exchange Act section 10 (and Rule 10b-5). To satisfy Rule 9(b) and the PLRSA's heightened pleading requirements, a plaintiff must plead specific facts showing what was represented and why it was false. In this case, plaintiff failed to do so because it failed to define… Read More