Securities Claims Dismissed For Failure To Plead Actionable Misstatement

Mealey's (January 4, 2019, 7:09 AM EST) -- BOSTON — A lead plaintiff in a securities class action lawsuit against a women’s clothing retailer has failed to sufficiently show that the company, certain of its senior officers and directors and underwriters of its initial public offering (IPO) misrepresented the company’s business and financial condition in violation of federal securities laws, a federal judge in Massachusetts ruled Dec. 20 (The Pension Trust [Lead Plaintiff] v. J.Jill Inc., et al., No. 17-11980, D. Mass., 2018 U.S. Dist. LEXIS 214094)....