Scienter Allegations Against Telecomm Company Lacking, 3rd Circuit Panel Rules

Mealey's (August 6, 2021, 1:52 PM EDT) -- PHILADELPHIA — A federal district court did not err in dismissing shareholder claims against a multinational telecommunications company and several of its current and former executive officers because in pleading their federal securities law claims, shareholders failed to sufficiently plead scienter, a Third Circuit U.S. Court of Appeals panel ruled Aug. 5 in affirming....