Dismissal Of Securities Class Action Over CEO's Alleged Sexual Misconduct Stands

Mealey's (October 2, 2020, 2:43 PM EDT) -- NEW YORK — A federal district court did not err in dismissing a pension plan's consolidated amended securities class action complaint against a tax preparation services provider and two of its former senior executives stemming from the company's former CEO's sexual and personal misconduct without leave to amend because the pension plan failed to plead any sufficient material misrepresentations in making its federal securities law claims, a Second Circuit U.S. Court of Appeals panel ruled Sept. 30 in a summary order (In re Liberty Tax Inc. Securities Litigation, No. 20-652, 2nd Cir.)....