Judge: Shareholders In Securities Class Action Suit Failed To Plead Scienter

Mealey's (March 24, 2016, 9:47 AM EDT) -- NEW YORK — Dismissal of a securities class action lawsuit is proper because shareholders failed to plead scienter in making their federal securities law claims, a federal judge in New York ruled March 21 (In re DNTW Chartered Accountants Securities Litigation, No. 13-4632, S.D. N.Y.; 2016 U.S. Dist. LEXIS 36661).

(Opinion available. Document #57-160418-010Z.)

Lead plaintiff Paul Stemborowski and named plaintiffs Jeff Somers and George Pilney (collectively, shareholders) filed an amended complaint in the U.S. District Court for the Southern District of New York on behalf...
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