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Mealeys

Mealey's Securities/D&O Liability - None Of 10 Alleged Misstatements In Securities Suit Actionable, Panel Rules

NEW YORK - A Second Circuit U.S. Court of Appeals panel on Nov. 6 ruled that a federal district court correctly found that lead plaintiffs in a securities class action lawsuit against an engineered products manufacturer and certain of its current and former executive officers failed to plead any actionable misstatements or omissions regarding a possible spin-off of its vehicle business after a merger in making their federal securities law claims (South Carolina Retirement Systems Group Trust, et al. v. Eaton Corp. PLC, et al., No. 18-2450, 2nd Cir., 2019 U.S. App. LEXIS 33149).
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