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Judge: Pension Fund Failed To Plead Scienter In Securities Class Action

Mealey's (July 30, 2015, 10:26 AM EDT) -- LOS ANGELES — A federal judge in California on July 28 granted a motion to dismiss filed by defendants in a securities class action lawsuit, ruling that a pension fund failed to properly plead scienter as statutorily required (In re Herbalife Ltd. Securities Litigation, No. 14-2850, C.D. Calif.).

(Opinion available. Document #57-150817-020Z.)

Lead plaintiff Oklahoma Firefighters Pension and Retirement System filed a second amended complaint (SAC) on behalf of all purchasers of Herbalife Ltd. common stock from Feb. 23, 2011, and March 10, 2014, in the...
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