Judge: Investor Failed To Plead Securities Law Claims In Stock Drop Suit

Mealey's (February 28, 2019, 1:38 PM EST) -- NEW YORK — A federal judge in New York on Feb. 26 ruled that the lead plaintiff in a securities class action lawsuit against online hotel booking company Trivago N.V., certain of its senior executives, its American representative and underwriters of trivago’s initial public offering (IPO) failed to sufficiently show that the defendants issued material misrepresentations or acted with the requisite scienter in allegedly failing to disclose the impact of a major algorithm change to its hotel search platform in violation of federal securities laws (Anthony Holbrook v. Trivago N.V., et al., No. 17-8348, S.D. N.Y., 2019 U.S. Dist. LEXIS 30700)....