Mealey's Securities/D&O Liability - Misstatements In Securities Suit Found Not To Be Forward-Looking, Puffery

Mealey's Securities/D&O Liability - Misstatements In Securities Suit Found Not To Be Forward-Looking, Puffery

CHARLOTTE, N.C. - A technology-based provider of advanced fossil and renewable power generation equipment and two of its senior officials have failed to show that its alleged misstatements and omissions in a securities class action lawsuit are forward-looking, puffery or optimistic statements or that the statements were not made with the requisite scienter, a federal judge in North Carolina ruled Feb. 8 in denying the defendants' motion to dismiss (Eric Ollila v. Babcock & Wilson Enterprises Inc., et al., No. 17-109, W.D. N.C., 2018 U.S. Dist. LEXIS 20587).

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