Shareholder Failed To Plead Falsity With Requisite Particularity, Judge Rules
(August 25, 2016, 1:54 PM EDT) -- LOS ANGELES — A shareholder has failed to plead falsity with the requisite particularity in making his federal securities law claims against an Internet content provider, a federal judge in California ruled Aug. 15 in dismissing the shareholder’s claims against the company (Guangyi Xu v. ChinaCache International Holdings Ltd., et al., No. 15-7952, C.D. Calif.; 2016 U.S. Dist. LEXIS 108629).
(Opinion available. Document #57-160815-057Z.)
Shareholder Guangyi Xu filed a first amended complaint in the U.S. District Court for the Central District of California on behalf of...