Mealey's Litigation Procedure - Judge Won't Dismiss Federal Securities Law Claims In Merger Deal Class Action

Mealey's Litigation Procedure - Judge Won't Dismiss Federal Securities Law Claims In Merger Deal Class Action

NEW YORK - A federal judge in Florida on May 30 substantially denied defendants' motions to dismiss a securities class action lawsuit regarding the acquisition of a company, ruling that the shareholder that brought the suit has properly pleaded his claims and that the federal court has jurisdiction over the claims (Marvin Biver v. Nicholas Financial Inc., No. 14-250, M.D. Fla.; 2014 U.S. Dist. LEXIS 73933).

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