Judge: Shareholders Failed To Plead Actionable Misstatements, Scienter

Mealey's (April 5, 2021, 1:59 PM EDT) -- SALT LAKE CITY — A federal judge in Utah on March 31 granted a motion to dismiss filed by a software company that offers a cloud-based technology skills platform and others in a securities class action alleging that the defendants misrepresented the company’s profitability model and revenue expectations, ruling that lead plaintiffs failed to sufficiently plead scienter in pleading their federal securities law claims....