Shareholder Failed To Plead Material Misrepresentation, Scienter, Judge Rules
(May 23, 2016, 11:26 PM EDT) -- NEW YORK — Dismissal of a second amended complaint in a securities class action lawsuit is proper, a federal judge in New York ruled May 16, because the lead plaintiff in the action failed to plead any material misrepresentations or scienter in making his federal securities law claims (Aram J. Pehlivanian v. China Gerui Advanced Material Group Ltd., et al., No. 14-9443, S.D. N.Y.; 2016 U.S. Dist. LEXIS 64427).
(Opinion available. Document #57-160620-007Z.)
Shareholder Aram J. Pehlivanian filed a second amended complaint (SAC) in the U.S....