Defendants: Shareholder Suit Properly Dismissed For Failure To State Claim

Mealey's (February 28, 2019, 12:59 PM EST) -- SAN FRANCISCO — A federal district court did not err in dismissing a securities class action lawsuit against a developer and manufacturer of electronic design automation (EDA) products and certain of its senior executives because the lead plaintiff in the action failed to state a claim for relief in making its federal securities law claims, the defendants argue in a Feb. 25 appellee brief filed in the Ninth Circuit U.S. Court of Appeals (Western Pennsylvania Electrical Employees Pension Fund v. Mentor Graphics Corp., et al., No. 18-35693, 9th Cir.)....

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