Shareholders Failed To Correct Loss Causation Deficiencies, Judge Rules
Mealey's (September 8, 2016, 1:52 PM EDT) -- SAN FRANCISCO — Shareholders have failed to show how an anonymous blogger report is adequate to serve as a corrective disclosure to support loss causation, a federal judge in California ruled Sept. 2 in dismissing the shareholders’ amended complaint (Francis J. Bonanno v. Cellular Biomedicine Group Inc., et al., No. 15-1795, N.D. Calif.; 2016 U.S. Dist. LEXIS 119194).
(Order available. Document #57-160919-013R.)
Shareholders Michelle Jackson, Ervin Windom, Ding Liang and Beverly Nissenbaum filed an amended complaint in the U.S. District Court for the Northern District of...