Dismissal Of Securities Suit Backed By Lack Of Scienter Allegations, Panel Rules

Mealey's (July 13, 2018, 12:06 PM EDT) -- CHICAGO — A Seventh Circuit U.S. Court of Appeals panel on July 12 ruled that a federal district court did not err in dismissing a securities class action complaint against retailed Kohl’s Corp. and certain of its executive officers with prejudice because a pension fund failed to show that the defendants acted with the required scienter and failed to show that amendment of its complaint would cure the pleading defects that led to dismissal (Pension Trust Fund for Operating Engineers, et al. v. Kohl’s Corp., et al., No. 17-2697, 7th Cir., 2018 U.S. App. LEXIS 19014)....