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ALTIMEO ASSET MANAGEMENT v. QIHOO 360 TECHNOLOGY

No. 20-3074 August Term 2020.

19 F.4th 145 (2021)

ALTIMEO ASSET MANAGEMENT and ODS Capital LLC, individually and on behalf of all others similarly situated, Plaintiffs-Appellants, v. QIHOO 360 TECHNOLOGY CO. LTD., Eric X. Chen, Defendants-Appellees, Honyi Zhou, Xiangdong Qi, Defendants.

United States Court of Appeals, Second Circuit.

Decided: November 24, 2021.

Attorney(s) appearing for the Case

Jeremy A. Lieberman ( Michael Grunfeld , on the brief), Pomerantz LLP, New York, NY, for Plaintiffs-Appellants.

David Kistenbroker ( Joni Jacobsen , Angela Liu , Brian Raphel , on the brief), Dechert LLP, Chicago, IL, for Defendants-Appellees.

Before: CALABRESI, POOLER, and MENASHI, Circuit Judges.

In this case, we must decide whether the appellants, representing a putative class of investors, plausibly alleged a misstatement or omission of material fact sufficient to state a claim for securities fraud and therefore to survive a motion to dismiss. The appellants claim that the appellees represented to shareholders that...

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