District Court’s Tellabs Analysis In Securities Suit Found To Be Adequate

(September 24, 2018, 1:41 PM EDT) -- PHILADELPHIA — A federal district court properly applied U.S. Supreme Court precedent in its analysis and did not err in dismissing a securities class action complaint against American car rental company Hertz Global Holdings Inc. and certain of its former executive officers because lead plaintiffs failed to properly plead scienter in making their federal securities law claims, a Third Circuit U.S. Court of Appeals panel ruled Sept. 20 (In re Hertz Global Holdings Inc., No. 17-2200, 3rd Cir., 2018 U.S. App. LEXIS 26865)....

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