Judge Trims Claims Against Auditor In Securities Class Action Lawsuit

(March 9, 2016, 12:20 PM EST) -- NEW YORK — A federal judge in New York on Feb. 19 granted in part and denied in part a motion to dismiss filed by a company’s independent auditor, ruling that although shareholders failed to plead scienter with regard to the auditor, they properly pleaded their claim under Section 11 of the Securities Act of 1933 pursuant to the U.S. Supreme Court’s ruling in Omnicare Inc., et al. v. The Laborers District Council Construction Industry Pension Fund and The Cement Masons Local 526 Combined Funds (In...
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