Investor Group Pleaded Elements Of Securities Law Claim, Judge Rules
(November 4, 2016, 9:53 AM EDT) -- SAN FRANCISCO — The lead plaintiff in a securities class action lawsuit against a fitness-tracking device manufacturer and certain of its executive officers has properly pleaded an actionable misrepresentation or omission, scienter and loss causation, a federal judge in California ruled Oct. 26 in denying the defendants’ motion to dismiss (Brian H. Robb v. Fitbit Inc., et al., No. 16-151, N.D. Calif.; 2016 U.S. Dist. LEXIS 149321).
(Order available. Document #57-161121-028R.)
Shareholder Brian H. Robb filed the complaint in the U.S. District Court for the Northern...