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Actual Knowledge Of Alleged Misleading Statement Not Proven, Judge Rules

(September 3, 2015, 9:07 AM EDT) -- NEW ORLEANS — A securities class action filed by investors alleging that an oil and gas production company issued a false and misleading statement in connection with the exchange of unregistered private notes fails because the investors did not adequately plead that the company’s officers and directors had actual knowledge that the challenged statement was false and because the prospectus for the exchange “provided meaningful cautionary language,” a Louisiana federal judge held Aug. 14 (Firefighters Pension & Relief Fund of the City of New Orleans v....
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