Judge: Investors Failed To Plead Material Misstatement In Securities Suit

Mealey's (March 28, 2016, 2:23 PM EDT) -- NEW YORK — A federal judge in New York on March 23 granted a motion to dismiss filed by defendants in a securities class action lawsuit, ruling that lead plaintiffs failed to show that a plastics company’s Securities and Exchange Commission filings were overstated “based solely upon a comparison to its” filings with China’s regulatory authority in violation of federal securities laws (In re China XD Plastics Co. Ltd. Securities Litigation, No. 14-5308, S.D. N.Y.; 2016 U.S. Dist. LEXIS 37951).

(Opinion available. Document #57-160418-018Z.)

Lead plaintiffs...
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