Judge Substantially Denies Dismissal Motions In Securities Class Action

Judge Substantially Denies Dismissal Motions In Securities Class Action

BOSTON - Shareholders in two similar and consolidated securities class action lawsuits against two companies that are the subject of a merger deal and a number of individual defendants have properly pleaded that the individual defendants breached their fiduciary duties in the planning and execution of the deal, a federal judge in Massachusetts ruled March 30 (In re PHC, Inc. Shareholder Litigation, No. 11-11049, D. Mass.; 2012 U.S. Dist. LEXIS 44616).

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