Judge: Pension Plan Failed To Plead Falsity, Scienter In Making Securities Claims

Mealey's (December 17, 2018, 1:58 PM EST) -- LOS ANGELES — A federal judge in California on Dec. 13 ruled that the lead plaintiff in a securities class action lawsuit against a managed health care services provider for Medicaid and Medicare that also offers health insurance on the Affordable Care Act (ACA) Health Exchange and certain of its current and former senior executives failed to sufficiently show that the defendants misrepresented the scalability of the company’s infrastructure in violation of federal securities laws (Steamfitters Local 449 Pension Plan v. Molina Healthcare Inc., et al., No. 18-3579, C.D. Calif.)....