Dismissal Of Securities Class Action For Failure To Plead Scienter Affirmed

Mealey's (April 22, 2019, 2:24 PM EDT) -- NEW YORK — A federal district court did not err in holding that the lead plaintiff in a securities class action failed to plead a strong inference of scienter in making its federal securities law claims against an online currency brokerage and its CEO, a Second Circuit U.S. Court of Appeals panel ruled April 17 in affirming the District Court’s dismissal of the second amended complaint for failure to plead any materially misleading statements (Retirement Board of the Policemen’s Annuity and Benefit Fund of Chicago v. FXCM Inc., et al., No. 18-2604, 2nd Cir.; 2019 U.S. App. LEXIS 11198)....