The Supreme Court today denied a petition for a writ of certiorari filed in September 2008 by Merix Corp. (MERX), which sought to bring a halt to a securities class action brought against it after it announced a downward revision of projected sales for its circuit board products in 2004. The 2004 complaint against Merix alleged that the defendants issued overly optimistic earnings and revenue projections, and failed to disclose or indicate, among other things, that the company’s financial projections over-relied upon customers’ future demand for premium-priced and reduced-lead-time products.
The case was was dismissed in September 2006 but in April 2008, the Ninth Circuit reversed and remanded the case to the district court. The Supreme Court denied the petition today without any discussion.
