04/10/2012 09:27:01 AM EST
Judge: Fund Failed To Plead Securities Claims With Requisite Scienter
CHICAGO - Dismissal of a lead plaintiff's second amended securities class action complaint is proper, a federal judge in Illinois ruled March 29, because it failed to plead scienter, falsity or a material misrepresentation (Garden City Employees' Retirement System, et al. v. Anixter International Inc., et al., No. 09-5641, N.D. Ill.; 2012 U.S. Dist. LEXIS 43196).
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