Judge Dismisses Securities Suit For Lack Of Actionable Misrepresentations

(January 17, 2017, 4:46 PM EST) -- LOS ANGELES — A shareholder has failed to show that a Chinese internet content and content delivery company issued any actionable misstatements or omissions or acted with the requisite scienter in making claims that the defendants misrepresented issues with the company’s transition to a new cache cloud, a federal judge in California ruled Jan. 9 in granting the company’s motion to dismiss (Guangyi Xu v. ChinaCache International Holdings Ltd., et al., No. 15-7952, C.D. Calif.; 2017 U.S. Dist. LEXIS 4235)....