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Mealeys

Mealey's Securities/D&O Liability - Securities Class Action Claims Dismissed For Failure To Plead Falsity, Scienter

CHICAGO - A federal judge in Illinois on Oct. 16 ruled that lead plaintiffs in a securities class action lawsuit against a provider of in-flight internet connectivity equipment and services to airlines and airline passengers and certain of its current and former senior executives failed to sufficiently plead falsity and scienter in alleging that the defendants failed to disclose significant design flaws with one of its global satellite system products in violation of federal securities laws (Ashley Pierrelouis v. Gogo Inc., et al., No. 18-4473, N.D. Ill., 2019 U.S. Dist. LEXIS 179251).
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