Investor Failed To Plead Any Material Misrepresentations, Federal Judge Rules

Investor Failed To Plead Any Material Misrepresentations, Federal Judge Rules

NEW YORK - In an opinion made available on Aug. 3, a federal judge in New York dismissed a shareholder class action lawsuit stemming from the financial collapse of financial giant Lehman Brothers, ruling that an investor failed to plead any material misrepresentations or scienter in making its state and federal securities law claims (In re Lehman Brothers Securities and ERISA Litigation, No. 09-md-2017; $(Stichting Pensioenfonds ABP v. Merrill Lynch & Co. Inc., No. 10-6637$), S.D. N.Y.; 2013 U.S. Dist. LEXIS 107559).

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