Company Tells 2nd Circuit That Stock-Drop Claims Were Properly Dismissed

Mealey's (November 11, 2020, 2:07 PM EST) -- NEW YORK — A federal district court in New York did not err in dismissing shareholder allegations that a transportation company and certain of its current and former executive officers violated federal securities law by failing to disclose their involvement in an alleged overcharge scheme because the shareholders failed to plead the conduct underlying their claims with particularity, as statutorily required, the company and its officers allege in a Nov. 9 appellee brief filed in the Second Circuit U.S. Court of Appeals (City of Warwick Retirement Fund, et al. v. YRC Worldwide Inc., et al., No. 20-1427, 2nd Cir.)....