Panel Affirms Dismissal Of Shareholder Lawsuit Over Merger Deal

Mealey's (March 14, 2019, 1:43 PM EDT) -- RICHMOND, Va. — A Fourth Circuit U.S. Court of Appeals panel on March 11 ruled that a federal district court did not err in dismissing federal securities law claims stemming from allegedly false and misleading statements made in the proxy statement for a merger deal between real estate investment trusts (REITs) because shareholders failed to sufficiently show that the alleged misstatements were materially false or misleading (Paradise Wire & Cable Defined Benefit Pension Plan, et al. v. Edward M. Weil Jr., et al., No. 18-1483, 4th Cir., 2019 U.S. App. LEXIS 7103)....