Judge: Lead Plaintiff Failed To Plead Scienter In Securities Class Action
(September 15, 2015, 1:54 PM EDT) -- WEST PALM BEACH, Fla. — Dismissal of a securities class action lawsuit against a mortgage loan servicer and certain of its executive officers is proper because the lead plaintiff in the action has failed to plead any actionable misstatements or scienter in making its federal securities law claims, a federal judge in Florida ruled Sept. 4 (In re Ocwen Financial Corp. Securities Litigation, No. 14-81057, S.D. Fla.).
(Order available. Document #57-150921-025R.)
Lead plaintiff Sjunde AP-Fonden filed an amended complaint in the U.S. District Court for the...