Panel Upholds Dismissal Of GNC Securities Suit For Failure To Plead Scienter

(December 13, 2018, 1:33 PM EST) -- PHILADELPHIA — A Third Circuit U.S. Court of Appeals panel on Dec. 11 ruled that a federal district court did not err in dismissing a securities class action lawsuit against dietary supplement retailer GNC Holdings Inc. and certain of its current and former senior executives because the lead plaintiff in the action failed to plead the necessary element of scienter in making its federal securities law claims (James Martin, et al. v. GNC Holdings Inc., et al., No. 17-3303, 3rd Cir., 2018 U.S. App. LEXIS 34706)....

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