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Mealey's Securities/D&O Liability - Bribery Claims In Securities Suit Deemed Not Actionable; New Claim Time-Barred

NEW YORK - Even though lead plaintiffs in a securities class action lawsuit against a multinational building materials company and others have added another defendant and cause of action against that defendant in their amended complaint, they have still pleaded only conclusory allegations in alleging that the defendants concealed the company's involvement in a bribery scheme with a Columbian company in violation of federal securities laws, a federal judge in New York ruled Feb. 10 (Christopher Schiro v. Cemex S.A.B. de C.V., et al., No. 18-2352, S.D. N.Y., 2020 U.S. Dist. LEXIS 22828).
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