Panel:  Scienter Allegations In MetLife Securities Suit Holistically Insufficient

Mealey's (February 18, 2022, 11:34 AM EST) -- NEW YORK — A federal district court did not err in dismissing securities class action claims with prejudice against pension risk manager MetLife Inc. and three of its former senior executives stemming from their alleged misrepresentations concerning MetLife’s means of determining outstanding pension liabilities for companies because shareholders failed to sufficiently plead that MetLife and its executives acted with the requisite scienter in maintaining this practice, a Second Circuit U.S. Court of Appeals panel ruled in affirming on Feb. 17....