Magistrate Judge Recommends That Dismissal Of Merger Deal Suit Be Denied

(October 13, 2017, 11:34 AM EDT) -- PORTLAND, Ore. — Lead plaintiffs in a securities class action against a company and its board of directors have shown that the defendants misrepresented the value of the company in a proxy statement for a proposed acquisition deal and acted with the requisite scienter in doing so, a federal magistrate judge ruled Oct. 3, recommending that the defendant’s motion to dismiss be denied (NECA-IBEW Pension Trust Fund [The Decatur Plan], et al. v. Precision Castparts Corp., et al., No. 16-1756, D. Ore., 2017 U.S. LEXIS 165139)....