Judge: Lead Plaintiff Failed To Plead Materiality In Securities Class Action
(July 13, 2016, 10:40 PM EDT) -- NEW YORK — A federal judge in New York on July 6 dismissed a securities class action lawsuit against a Mexican aviation company and others, ruling that the lead plaintiff in the action failed to properly plead materiality in making its federal securities law claims (Dekalb County Employees Retirement System v. Contraloardora Vuela Compañia de Aviación S.A.B. de C.V., et al., No. 15-1337, S.D. N.Y.; 2016 U.S. Dist. LEXIS 87235).
(Opinion available. Document #57-160718-011Z.)
Lead plaintiff Pavers and Road Builders Pension Fund filed an amended complaint...