Lead Plaintiff Failed To Properly Plead Scienter In Securities Suit, Judge Rules
(August 12, 2015, 5:01 PM EDT) -- PHOENIX — Dismissal of a securities class action lawsuit against a company and certain of its executive officers is proper because the lead plaintiff failed to properly plead an actionable misrepresentation and scienter in making his federal securities law claims, a federal judge in Arizona ruled July 21 (Dawn E. Bien v. LifeLock Incorporated, et al., No. 14-0416, D. Ariz.).
(Opinion available. Document #57-150817-052Z.)
On March 8, 2010, the Federal Trade Commission sued LifeLock Inc. and Chairman and CEO Todd Davis. The FTC alleged that LifeLock...