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GRIGSBY v. BOFI HOLDING, INC.

No. 19-55042.

979 F.3d 1198 (2020)

David GRIGSBY; Joseph Shepard, On Behalf of Themselves and All Others Similarly Situated, Plaintiffs-Appellants, and Bar Mandalevy; David Siebert, Plaintiffs, v. BOFI HOLDING, INC.; Gregory Garrabrants; Andrew J. Micheletti; Eshel Bar-Adon; Paul J. Grinberg, Defendants-Appellees, v. BofI Investors Group; Vickie Siebert; Chao Wang; Larry L. Dooley; Linda Ostermann; Philip Ricciardi, Movants.

United States Court of Appeals, Ninth Circuit.

Filed November 3, 2020.

Attorney(s) appearing for the Case

Jeremy A. Lieberman (argued), Emma Gilmore , Brenda F. Szydlo , and Jennifer Banner Sobers , Pomerantz LLP, New York, New York; Patrick M. Dahlstrom , Pomerantz LLP, Chicago, Illinois; Adam M. Apton and Adam McCall , Levi & Korsinsky LLP, Washington, D.C.; for Plaintiffs-Appellants.

John P. Stigi III (argued), Sheppard Mullin Richter & Hampton LLP, Los Angeles, California; Polly Towill , Sheppard Mullin Richter & Hampton LLP, Los Angeles, California; for Defendants-Appellees.

Before: Mary H. Murguia and Morgan Christen, Circuit Judges, and Alvin K. Hellerstein, District Judge.

OPINION

In this securities fraud appeal, we consider whether information obtained through the Freedom of Information Act (FOIA) can constitute a corrective disclosure for purposes of alleging loss causation. Plaintiffs, who represent a putative shareholder class, filed a complaint alleging that Defendant BofI Holding...

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