ACTICON AG, Plaintiff-Appellant,
Ricardo Rosado, Individually and on behalf of all others similarly situated, Steven Weissman, Individually and on behalf of all others similarly situated, Tony Moore, Individually and on behalf of all others similarly situated, Plaintiffs,
v.
CHINA NORTH EAST PETROLEUM HOLDINGS LIMITED, Wang Hong Jun, Zhang Yang, Ju Guizhe, Robert C. Bruce, Ralph E. Davis Associates, Inc., Defendants-Appellees,
Ralph E. Davis, Li Jing Fu, Yu Li Guo, Edward M. Rule, Defendants.
United States Court of Appeals, Second Circuit.https://leagle.com/images/logo.png
Michael J. Coffino , The Crone Law Group, San Francisco, CA ( Jaime J. Santos , The Crone Law Group, San Francisco, CA, Lawrence Brocchini , Reaves Parent Lehrer LLP, New York, NY, on the brief), for Defendants-Appellees China North East Petroleum Holdings Limited, Wang Hong Jun, Zhang Yang, and Ju Guizhe.
Samuel Lloyd Neal , Dunn, Neal & Gerger, LLP, Houston, TX ( Andrew L. Morrison , K & L Gates LLP, on the brief), for Defendant-Appellee Ralph E. Davis Associates, Inc.
Before: WINTER, STRAUB, and LYNCH, Circuit Judges.
United States Court of Appeals, Second Circuit.
STRAUB, Circuit Judge:
This case requires us to consider whether the fact that a stock's share price recovered soon after the fraud became known defeats an inference of economic loss in a securities fraud suit. Plaintiff-Appellant Acticon AG ("Acticon") is the lead plaintiff in a consolidated putative class action suit against China North East Petroleum Holdings Limited ("NEP") brought pursuant to §§ 10(b) &...
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