Judge: Lead Plaintiffs Lacked Standing To Appeal Dismissal Of Securities Claims

Mealey's (December 9, 2015, 2:36 PM EST) -- SEATTLE — Dismissal of a securities class action complaint is proper because the lead plaintiffs lacked standing to pursue their claims when they failed to appeal a federal judge’s ruling dismissing those claims against BP PLC and others, a federal judge in Washington ruled Dec. 7 (Claude A. Reese, et al. v. Robert A. Malone, et al., No. 08-1008, W.D. Wash.).

Lead plaintiffs filed an amended complaint in the U.S. District Court for the Western District of Washington on behalf of all purchasers of BP stock...
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