Not a Lexis Advance subscriber? Try it out for free.

Mealeys

Mealey's Securities/D&O Liability - Investor: Court Erred In Dismissing 'Abandoned' Claim In Stock-Drop Suit

NEW YORK - A federal district court erred in dismissing federal securities law claims in an investor class action against a mining company and two of its former senior executives that alleged that the defendants misled investors about the financial profitability of an African coal mining license acquisition despite a "contrary ruling" in a related Securities and Exchange Commission action, a lead plaintiff argues in a Dec. 10 appellant brief filed in the Second Circuit U.S. Court of Appeals (Anton Colbert v. Rio Tinto plc, et al., No. 19-2711, 2nd Cir.).
Find full version on lexis Advance®