Pension Fund Lacks Standing To Bring Securities Claims, 11th Circuit Panel Told

(July 15, 2022, 9:51 AM EDT) -- ATLANTA — A federal district court did not err in dismissing a pension fund’s federal securities law claims in a class action lawsuit alleging that a skin-graft manufacturer, three of its former senior executives and its former independent auditor violated federal securities laws by engaging in a massive accounting and channel-stuffing scheme because the lead plaintiff in the action lacked standing to bring its claims and failed to plead loss causation, the company argues in a July 11 appellee brief filed in the 11th Circuit U.S. Court of Appeals....