Judge Allows Testimony In Securities Fraud Lawsuit On Fiduciary Duty Standards
(March 8, 2016, 2:34 PM EST) -- ALBANY, N.Y. — In a securities fraud action filed by employees, a New York federal judge on March 7 allowed certain testimony from defense experts on fiduciary duty standards and when the employer should have disclosed a financial investment offer (Clifford P. Beede, et al. v. Stiefel Laboratories, Inc. and Charles W. Stiefel, No. 13-120, N.D. N.Y.; 2016 U.S. Dist. LEXIS 28304).
(Opinion available. Document #30-160311-033Z.)
On Jan. 13, 2013, Clifford P. Beede, Sherry E. Halligan, Eileen Mottl and Catherine G. Weeks sued Stiefel Laboratories Inc....