Dismissal Of Securities Class Action Claims Against Whole Foods Affirmed

Mealey's (October 4, 2018, 1:50 PM EDT) -- NEW ORLEANS — A Fifth Circuit U.S. Court of Appeals panel on Oct. 3 ruled that a federal court did not err in dismissing a second amended securities class action against Whole Foods Market Inc. and certain of its executive officers for allegedly concealing the extent of a weights-and-measures scandal with its pricing of its products because the lead plaintiff in the action failed to sufficiently plead any of the necessary elements of its federal securities law claims (Employees’ Retirement System of Hawaii v. Whole Foods Markets Inc., et al., No. 17-50840, 5th Cir., 2018 U.S. App. LEXIS 28027)....