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10th Circuit Panel Affirms Court’s Dismissal Of Merger Deal Stock Drop Suit

Mealey's (May 15, 2018, 2:18 PM EDT) -- DENVER — A 10th Circuit U.S. Court of Appeals panel affirmed dismissal of a securities class action May 11, ruling that the lead plaintiff failed to show that the defendants had a duty to disclose to investors that the defendants were in discussions with a second company when they announced a proposed merger deal with another company, that the discussions with the second company were material or that the defendants acted with the requisite scienter in failing to disclose the discussions (Employees’ Retirement System of Rhode...
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