Dismissal Of Securities Claims For Lack Of Scienter Upheld On Appeal

Mealey's (September 10, 2019, 3:03 PM EDT) -- NEW ORLEANS — In an unpublished, per curiam opinion, a Fifth Circuit U.S. Court of Appeals panel on Aug. 23 ruled that a federal district court did not err in dismissing a lead plaintiff’s third amended securities class action complaint against a provider of custom-engineered equipment and modification and maintenance services and others for failure to properly plead scienter in making her federal securities law claims (Margaret Budde v. Global Power Equipment Group Inc., et al., No. 18-11206, 5th Cir., 2019 U.S. App. LEXIS 25428)....