Mealey's Banking & Finance - Connecticut Federal Judge: Facts Not Sufficient To Support Shareholder Action

Mealey's Banking & Finance - Connecticut Federal Judge: Facts Not Sufficient To Support Shareholder Action

NEW HAVEN, Conn. - A Connecticut federal judge on March 31 dismissed a class action lawsuit alleging that two marketing companies and their principals misled and deceived shareholders for the purpose of artificially inflating the price of stock of one of the companies when the other company bought it, finding that the shareholder plaintiffs failed to plead facts showing that the companies made a misleading statement and failed to plead loss causation (Musab Abuhamdan, et al. v. Blyth, Inc., et al., No. 3:12-cv-1597, D. Conn.; 2014 U.S. Dist. LEXIS 44481).

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