Panel: Investor Failed To Plead Misrepresentation In Securities Class Action

NEW YORK - A Second Circuit U.S. Court of Appeals panel on Sept. 19 affirmed a federal district court's dismissal of a securities class action lawsuit against Lloyds Banking Group and certain of its executive officers, ruling that a shareholder failed to plead any actionable misstatements or omissions under federal securities law (Albert A. Ross v. Lloyds Banking Group PLC, f/k/a Lloyds TSB Group PLC, et al., Nos. 12-4600 and 13-729, 2nd Cir.; 2013 U.S. App. LEXIS 19303).

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