Judge: Lead Plaintiff Failed To Plead Scienter In Making Securities Law Claims

Mealey's (September 5, 2018, 2:14 PM EDT) -- NEW YORK — The lead plaintiff in a securities class action lawsuit against a multinational telecommunications company and certain of its current and former senior executives failed to sufficiently show that any of the individual defendants acted with the requisite scienter, were control persons of the company or were culpable participants in the company’s alleged fraud, a federal judge in New York ruled Aug. 30 in granting the individual defendants’ motion to dismiss the lead plaintiff’s federal securities law claims (In re VEON Ltd. Securities Litigation, No. 15-8672, S.D. N.Y., 2018 U.S. Dist. LEXIS 148272)....