Dismissal Of Claims In Stock Drop Suit For Failure To Plead Scienter Upheld

Mealey's (October 18, 2019, 11:31 AM EDT) -- NEW YORK — In an Oct. 15 summary order, a Second Circuit U.S. Court of Appeals panel ruled that a federal district court did not err in dismissing federal securities law claims in an investor class action lawsuit against a provider of high technology products and services to the building and aerospace industries and certain of its senior executives after construing a pre-motion letter as an actual motion to dismiss (Kapitalforeningen Lægernes Invest v. United Technologies Corp., et al., No. 18-3208, 2nd Cir., 2019 U.S. Dist. LEXIS 30899)....