Judge Trims Federal Securities Law Claims In Class Action Lawsuit

Mealey's (January 5, 2016, 1:07 PM EST) -- OAKLAND, Calif. — Lead plaintiffs in a securities class action lawsuit have properly pleaded scienter and loss causation in making their federal securities law claims against certain officers of a company, but they have failed to plead any material misrepresentations on the part of the remaining defendants, a federal judge in California ruled Dec. 23, in granting in part and denying in part a motion to dismiss and granting another (In re Rocket Fuel Inc. Securities Litigation, No. 14-3998, N.D. Calif.).

(Order available. Document #57-160120-016R.)...
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