Evidence Of Recantations Not Sufficient In Securities Class Action, Judge Rules

Mealey's (March 4, 2016, 2:22 PM EST) -- NEW YORK — A federal judge in New York on March 3 denied a motion for reconsideration of a previous order denying a motion to dismiss filed by defendants in a securities class action lawsuit, ruling that the recantation of information by confidential witnesses is not sufficient enough to grant reconsideration (In re Genworth Financial Inc. Securities Litigation, No. 14-2392, S.D. N.Y.).

(Order available. Document #57-160321-051R.)

Lead plaintiffs City of Hialeah Employees’ Retirement System and New Bedford Contributory Retirement System filed a second amended complaint in...
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