Judge: Investors Failed To Plead Misstatement, Scienter In Securities Suit
(April 7, 2016, 9:19 AM EDT) -- SAN JOSE, Calif. — Dismissal of a second amended complaint in a securities class action lawsuit is proper because lead plaintiffs failed to plead a material misrepresentation, scienter or loss causation in making their federal securities law claims, a federal judge in California ruled March 29 (In re VeriFone Securities Litigation, No. 13-1038, N.D. Calif.; 2016 U.S. Dist. LEXIS 42722).
(Order available. Document #57-160418-048R.)
Lead plaintiffs filed an amended complaint in the U.S. District Court for the Northern District of California on behalf of all purchasers...