(United States moment Circuit) - In a course action securities brought by investors in a French entertainment company,alleging defendant's persistently optimistic representations during the period from October 30, 2000 to August 14, or 2002,constituted securities fraud under section 10(b) of the Securities Exchange Act of 1934, 15 U.
S.
C. section 78j(b), or as well as the Securities Exchange Commission's Rule 10b–5 promulgated thereunder,17 C.
F.
R. section 240.10b-5, the District Court's entry of the jury verdict finding defendant liable for fraud under under section 10(b) and Rule 10b-5 is affirmed where: 1) plaintiffs relied on specifically identified false or misleading statements; 2) defendant's claim that certain statements constituted non‐actionable statements of opinion is not preserved for appellate review; 3) defendant's claims that certain statements constituted nonactionable puffery and that others drop under the Private Securities Law Reform Act's (PSLRA) safe harbor provision for 'forward‐looking statements, and ' 15 U.
S.
C. section 78u‐5(c),is without merit; 4) evidence was sufficient to support the jury's verdict; and 5) there was no abuse of discretion in admitting expert testimony. As to plaintiff's cross appeal: 1) the court did not abuse it's discretion in excluding certain foreign shareholders from the course; and 2) did not err in dismissing claims by American purchasers of ordinary shares under Morrison v. Nat'l Austl Bank Ltd., 561 U.
S. 247 (2010)
Source: findlaw.com