Federal Judge Trims Claims In Securities Class Action Against Semiconductor Maker
Mealey's (March 9, 2016, 9:10 AM EST) -- SAN FRANCISCO — A federal judge in California on March 4 granted in part and denied in part motions to dismiss in a securities class action lawsuit, ruling that although shareholders properly pleaded scienter, loss causation and an actionable misrepresentation, they lack standing to bring claims pursuant to the Securities Act of 1933 (Keith Thomas, et al. v. Magnachip Semiconductor Corp., et al., No. 14-1160, N.D. Calif.; 2016 U.S. Dist. LEXIS 28077).
(Order available. Document #57-160321-060R.)
Lead plaintiffs filed a third amended complaint in the U.S....