Fracking Company’s Remediation Compliance Statements Not Actionable, Judge Rules

Mealey's (August 12, 2022, 1:39 PM EDT) -- HOUSTON — A federal judge in Texas on Aug. 10 ruled that although shareholders in a securities class action against a hydraulic fracturing company and three of its senior executives sufficiently pleaded the necessary elements of their federal securities law claims against some of the defendants, they failed to properly plead that the defendants’ substantial compliance statements were actionable or that one of the defendants acted with the requisite scienter....