Judge Upholds Section 20(a) Control-Person Liability Ruling In Securities Suit

Mealey's (April 11, 2018, 1:56 PM EDT) -- ATLANTA — Lead plaintiffs have properly shown that defendants in a securities class action lawsuit exercised the necessary control over a power company to support their control-person liability claim under Section 20(a) of the Securities Exchange Act of 1934, a federal judge in Georgia ruled April 6 in granting the defendants’ motion for clarification of its earlier order granting in part their motion to dismiss (Monroe County Employees Retirement System, et al. v. The Southern Co., et al., No. 17-0241, N.D. Ga., 2018 U.S. Dist. LEXIS 54008)....