Chart Was Not Required Information In Tender Recommendation, Panel Rules

Mealey's (April 19, 2021, 2:15 PM EDT) -- PASADENA, Calif. — A federal district court did not err in dismissing federal securities claims in a shareholder class action lawsuit for failure to state a claim for relief against a technology company and others over the company’s acquisition of a provider of network solutions because a lead plaintiff’s claim under Section 14(e) of the Securities Exchange Act of 1934 rested on the provider’s failure to provide information in its tender recommendation that was not required to be given to shareholders under the statute, a Ninth Circuit U.S. Court of Appeals panel ruled in affirming April 15....