Shareholders Granted Leave To Amend Corporate Scienter Claims In Securities Suit
(July 14, 2017, 2:43 PM EDT) -- NEW YORK — A federal judge in New York on July 7 denied a motion for reconsideration filed by shareholders in a securities class action lawsuit, ruling that the shareholders failed to plead scienter against a company and its executive officers, but the judge granted the shareholders leave to amend to cure their corporate scienter pleading deficiencies (Raymond Thomas, et al. v. Shiloh Industries Inc., et al., No. 15-7449, S.D. N.Y., 2017 U.S. Dist. LEXIS 105291).