Investors Failed To Plead Misstatements In Securities Suit, Judge Says

Mealey's (April 13, 2018, 12:43 PM EDT) -- NEW YORK — Lead plaintiffs have failed to plead any actionable misstatements or omissions or scienter in making their federal securities law claims that two executive officers of networking solutions and products provider Nortel Networks Corp. misrepresented the company’s business and financial condition before its filing for bankruptcy in violation of federal securities law, a federal judge in New York ruled April 11 in granting the defendants’ motion to dismiss (David Lucescu v. Mike Zafirovski, et al., No. 09-4691, S.D. N.Y., 2018 U.S. Dist. LEXIS 61580)....