Investors Failed To Plead Scienter, Loss Causation In Securities Class Action
Mealey's (January 11, 2016, 11:42 AM EST) -- NEW YORK — Dismissal of a shareholder class action lawsuit is proper, a federal judge in New York ruled Jan. 6, because the shareholders failed to properly plead any material misrepresentations, scienter or loss causation in making their federal securities law claims (In re Sanofi Securities Litigation, No. 14-9624, S.D. N.Y.; 2016 U.S. Dist. LEXIS 1664).
(Opinion available. Document #57-160120-033Z.)
Lead plaintiff Meitav DS Provident Funds and Pension Ltd. and shareholder Joel Mofsenson filed an amended complaint in the U.S. District Court for the Southern District...