Dismissal Of Stock-Drop Suit Against Cemetery Company, Others Affirmed

Mealey's (June 21, 2019, 1:10 PM EDT) -- PHILADELPHIA — A federal district court did not err in dismissing a shareholder class action lawsuit against a cemetery services provider and others for failure to plead any materially false and/or misleading statements in an attempt to conceal its poor financial condition in violation of federal securities laws because, for each alleged category of alleged misrepresentations, the information was “readily and consistently disclosed” by the defendants, a Third Circuit U.S. Court of Appeals panel ruled June 20 (Peter Fan, et al. v. StoneMor Partners LP, et al., No. 17-3843, 3rd Cir., 2019 U.S. App. LEXIS 18520)....