Judge: Pension Fund Failed To Plead Materiality In Making Securities Law Claims
Mealey's (October 2, 2015, 9:24 AM EDT) -- NEW YORK — Dismissal of a first amended complaint in a securities class action lawsuit is proper because the lead plaintiff failed to properly plead materiality in making its federal securities law claims, a federal judge in New York ruled Sept. 29 (In re Ply Gem Holdings Inc. Securities Litigation, No. 14-3577, S.D. N.Y.; 2015 U.S. Dist. LEXIS 131203).
(Opinion available. Document #57-151019-006Z.)
Lead plaintiff Strathclyde Pension Fund filed an amended complaint in the U.S. District Court for the Southern District of New York on behalf...