No Violation of PSLRA Discovery Stay for Use of Documents Received After Stay Allegedly in Effect

Posted on: September 3rd, 2014 by Mark Friel

The central question in the Ninth Circuit’s recent opinion in Petrie v. Electronic Game Card, Inc., No. 12-55620, slip op. (9th Cir. July 30, 2014), was whether plaintiffs who issued subpoenas during a time in which no Private Securities Litigation Reform Act (“PSLRA”) discovery stay was in effect violated the PSLRA by using responsive documents received after a stay allegedly had come into existence. The court answered with an unqualified “no.” Read more…