Tag Archives: Securities

Investment choices were mistakes, not fraud (access required)

Where a company that provided mezzanine financing made poor investment choices in 2014 and 2015, plaintiffs failed to show its contemporaneous statements were made with the required scienter and their securities fraud class action was dismissed. Background LifeWise Family Financial ...

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Investors sue over failure to disclose anticompetitive conduct (access required)

Allegations that a doorskin manufacturer made representations about its pricing strategy, without disclosing its anticompetitive conduct that led to those continuing revenues, were sufficient to state a claim for violations of the securities laws. Background In this putative class action, ...

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Novel issues not certified for interlocutory appeal (access required)

Although a prior order in a securities class action resolved issues of first impression, they were not “controlling” and thus not certified for immediate interlocutory appeal. Background By order dated Feb. 25, 2020, the court denied the motion to certify ...

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Trustee’s lack of due diligence caused stock overpayment (access required)

A trustee’s unjustified reliance on a stock valuation and its failure to conduct sufficient due diligence resulted in an Employee Stock Ownership Plan paying well over fair market value to purchase shares in the company that were owned by the ...

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Claims accrued when plaintiffs signed incorrect annuity contract (access required)

Where plaintiffs intended to enter into an annuity contract that would provide benefits to both spouses but instead, relying on the investment advice of a registered securities representative for the defendant, entered into a single annuity contract that did not ...

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Allegations don’t establish intent to deceive (access required)

Various statements by a contractor related to its performance on a contract (estimated to be worth over $100 million) were optimistic or maybe even false, but the plaintiff’s allegations did not sufficiently allege executives’ scienter, i.e. a motive to deceive ...

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