Securities Claims In Online Marketplace Stock-Drop Lawsuit Whittled Down

Mealey's (April 5, 2021, 2:09 PM EDT) -- SAN JOSE, Calif. — A federal judge in California on March 31 substantially trimmed shareholder claims in a securities class action against an online marketplace, several of its executive officers and directors and underwriters of its initial public officer (IPO), ruling that although shareholders have sufficiently shown that several of the defendants’ alleged misstatements were actionable, they have failed to properly plead scienter in making those claims....