Opening Brief Due Aug. 2 in Intelsat Insider-Trading 9th Circuit Appeal

The opening brief from plaintiff-appellant Walleye Group is due Aug. 2 in the 9th U.S. Circuit Court of Appeals review it seeks of an April 27 district judge’s decision rejecting its second amended class-action suit against former Intelsat officers and shareholders on allegations of insider trading (see 2305300008), said a time schedule order Wednesday (docket 23-15822). The defendant-appellees’ answering brief is due Sept. 5, said the order. Walleye alleges the former Intelsat officers and shareholders dumped their stock holdings before the public found out the FCC wouldn't allow a private auction of the satellite company's C-band spectrum.