Statement from our appellate attorney Jerome Falk: "The Ninth Circuit has affirmed the District Court’s enforcement of the settlement over my clients’ objection on the ground that the settlement was obtained in violation of the federal securities laws. I appreciate the Ninth Circuit’s thorough discussion of the issues. However, I respectfully disagree with the Ninth Circuit’s conclusions. In my judgment, the opinion raises extremely significant questions of federal law that merit review by the entire Ninth Circuit Court of Appeals. For that reason, my colleagues and I will file a Petition For Rehearing En Banc within the next fifteen days.