Dismissal Of Investor Claims In Market Manipulation Lawsuit Upheld On Appeal

Mealey's (April 3, 2020, 2:38 PM EDT) -- NEW YORK — A federal district court did not err in dismissing claims in a securities class action against an owner of tanker vessels, two of its senior officers and others because the lead plaintiffs failed to plead any actionable misrepresentations or omissions in alleging that the defendants engaged in a market manipulation scheme in violation of federal securities laws, a Second Circuit U.S. Court of Appeals panel ruled April 2 (Moshe Onel, et al. v. Top Ships Inc., et al., No. 19-2693, 2nd Cir., 2020 U.S. App. LEXIS 10379)....