Lack Of Falsity, Scienter Dooms Claims In FedEx Cyberattack Stock-Drop Suit

Mealey's (February 11, 2021, 11:38 AM EST) -- NEW YORK — A federal judge in New York on Feb. 4 dismissed claims brought by a lead plaintiff in a securities class action lawsuit alleging that FedEx Corp. and several of its current and former executive officers failed to disclose the true impact that a massive cyberattack on FedEx’s European operations had on the company’s business and financial condition, ruling that the lead plaintiff failed to properly plead any actionable misrepresentation or scienter in bringing it federal securities law claims....