Investor Failed To Show Lack Of Disclosures Violated Securities Act, Judge Rules

Mealey's (February 16, 2017, 2:49 PM EST) -- NEW YORK — A lead plaintiff in a securities class action lawsuit against a business intelligence and marketing automation software service provider, certain of its executive officers and underwriters of the company’s initial public offering (IPO) failed to show that the defendants violated federal securities law by failing to disclose certain trends in its customer concentration and sales growth, a federal judge in New York ruled Feb. 13 in granting the defendants’ motions to dismiss (Andrew D. Nguyen v. MaxPoint Interactive Inc., et al., No. 15-6880, S.D. N.Y., 2017 U.S. Dist. LEXIS 20069)....