A securities lawsuit alleging that hearing aid seller Eargo Inc. and two executives misled investors about insurance requirements should be allowed to proceed, shareholders told the Ninth Circuit.
The complaint sufficiently alleges the company and its CEO and chief financial officer had the necessary intent for securities fraud, the investors said in a Thursday brief seeking reinstatement of the proposed class suit.
And more allegedly false statements are actionable than the district court recognized, individual investor Xiaobin Cai and the IBEW Local 353 Pension Plan said in the brief.
Judge Charles R. Breyer of the US District Court for the ...
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