District Court Got Scienter, Loss Causation Rulings Wrong, Investor Says

Mealey's (February 15, 2018, 1:56 PM EST) -- PHILADELPHIA — A federal district court erred in dismissing an amended securities class action complaint for failure to properly plead scienter or loss causation because the lead plaintiff properly pleaded a strong inference that dietary supplement retailer GNC Holdings Inc. was marketing substandard and illegal products in contradiction to its public statements that it boasted strict standards, the lead plaintiff argues in a Jan. 16 appellant brief filed in the Third Circuit U.S. Court of Appeals (James Martin, et al. v. GNC Holdings Inc., et al., No. 17-3303, 3rd Cir.)....

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