Lack Of Actionable Misstatements Leads To Dismissal Of Securities Claims

Mealey's (December 14, 2018, 2:31 PM EST) -- TAMPA, Fla. — A federal judge in Florida on Dec. 11 ruled that the lead plaintiff in a securities class action lawsuit failed to plead any actionable misstatements or omissions in making its federal securities law claims against a wholesale distributor of technology products and certain of its senior officers because the alleged misrepresentations were forward-looking and protected by the safe harbor provision of the Private Securities Litigation Reform Act (PSLRA) (Nealan Bhatt v. Tech Data Corp., et al., No. 17-2185, M.D. Fla., 2018 U.S. Dist. LEXIS 208892)....