Dismissal Of Claims In Poultry Company Follow-On Shareholder Lawsuit Affirmed

Mealey's (December 11, 2019, 1:12 PM EST) -- NEW YORK — A federal district court did not err in dismissing federal securities law claims in an investor class action against poultry processing company and certain of its executive officers stemming from their alleged involvement in two antitrust conspiracies designed to drive up the price of broiler chickens because in stating their claims, shareholders failed to plead facts in support of the underlying antitrust activity with the requisite particularity, a Second Circuit U.S. Court of Appeals panel ruled Dec. 10 (Gordon Gamm, et al. v. Sanderson Farms Inc., et al., No. 18-0284, 2nd Cir., 2019 U.S. App. LEXIS 36498)....