Judge: Economic Loss In Securities Suit Suffered By Company, Not Investors

Judge: Economic Loss In Securities Suit Suffered By Company, Not Investors

ATLANTA - In dismissing an amended shareholder class action and derivative complaint, a federal judge in Georgia on Sept. 26 ruled that a retirement system failed to show any economic loss in making its federal securities law claims against a commercial real estate acquisition and ownership company, certain of its officers and directors and its adviser because the economic loss was suffered by the company and not its shareholders (In re: Wells Real Estate Investment Trust Inc. Securities Litigation, No. 07-862, N.D. Ga.). View related prior history, 2010 U.S. Dist. LEXIS 143057.

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