Addition Of Witness Allegations Allows Securities Claims To Survive Dismissal

Mealey's (April 28, 2021, 2:09 PM EDT) -- CHICAGO — A lead plaintiff’s addition of confidential witness allegations in this third amended complaint have cured the pleading deficiencies that led to the dismissal of an earlier-filed amended complaint in a securities class action against a provider of in-flight internet connectivity equipment and services to airlines and airline passengers and certain of its current and former senior executives over the defendants’ alleged failure to disclose significant design flaws with one of the company’s global satellite system products in violation of federal securities laws, a federal judge in Illinois ruled in denying a motion to dismiss on April 26....