Judge: Lead Plaintiff In Securities Suit Failed To Cure Pleading Deficiencies

Mealey's (March 31, 2017, 2:07 PM EDT) -- NEW YORK — The lead plaintiff in a securities class action lawsuit against a steel processing company and certain of its current and former executive officers and directors have failed to show that the defendants issued any material misrepresentations regarding the company’s financial condition in violation of federal securities laws, a federal judge in New York ruled March 29 in dismissing the lead plaintiff’s third amended complaint with prejudice (Aram J. Pehlivanian v. China Gerui Advanced Materials Group Ltd., et al., No. 14-9443, S.D. N.Y., 2017 U.S. Dist. LEXIS 46852)....