Panel: Judge Properly Dismissed Shareholder Class Action Pursuant To Fait

Panel: Judge Properly Dismissed Shareholder Class Action Pursuant To Fait

NEW YORK - A federal judge in New York did not err in dismissing a shareholder class action lawsuit against CBS Corp. and certain of its current and former officers and directors for failure to state claim, a Second Circuit U.S. Court of Appeals panel ruled May 10, citing its recent ruling in Fait v. Regions Financial Corp. (City of Omaha, Nebraska Civilian Employees' Retirement System, et al. v. CBS Corp., et al.,  No. 11-2575, 2nd Cir.; 2012 U.S. App. LEXIS 9535).

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