Panel Affirms Rulings In Shareholder Suit Over Tech Company Acquisition

Mealey's (December 7, 2020, 1:14 PM EST) -- PHILADELPHIA — A Third Circuit U.S. Court of Appeals panel on Dec. 2 ruled that a federal district court did not err in denying a shareholder’s request to file a third amended complaint in a securities class action lawsuit stemming from the acquisition of a technology company for which the shareholder possessed stock because the shareholder’s intended amendments were futile and would not have changed the outcome of the litigation (Laborers Local No. 231 Pension Fund v. Rory J. Cowan, et al., No. 20-1844, 3rd Cir., 2020 U.S. App. LEXIS 37637)....