Panel Affirms Dismissal Ruling In Securities Class Complaint

Mealey's (July 31, 2018, 1:53 PM EDT) -- DENVER — Affirming a federal district court’s dismissal of a securities class action, a 10th Circuit U.S. Court of Appeals panel on July 30 ruled that a lead plaintiff failed to plead any actionable misstatements in violation of federal securities law in arguing that a technology company and certain of its senior officers misrepresented to investors that the company had developed “proprietary hardware and software” and had detected and prevented an attempted hacking attack by a state-sponsored Russian hacking group (David Hampton, et al. v. Root9B Technologies Inc., et al., No. 16-1417, 10th Cir., 2018 U.S. App. LEXIS 20977)....