Alleged Misstatements Were Forward-Looking, Nonactionable, Judge Rules

Mealey's (July 27, 2016, 1:48 PM EDT) -- SANTA ANA, Calif. — Dismissal of claims in a securities class action lawsuit is proper because alleged false and misleading statements made by a quick-service restaurant chain, several of its executive officers and directors and others in a 2015 press release were forward-looking and protected under the safe harbor provision of the Private Securities Litigation Reform Act (PSLRA) or were mere puffery and were nonactionable, a federal judge in California ruled July 25 (Daniel Turocy v. El Pollo Loco Holdings Inc., et al., No. 15-1343, C.D....
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