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Corporate Law: Securities-Pleading Standards
Staff Report//April 27, 2020//
Listen to this articleWhere investors who bought defendant’s stock during a certain period sued the defendant corporation and its executives, claiming that they were misled about problems in the defendant’s Canadian stores, the complaint failed to allege facts supporting an inference of fraudulent intent, and the investors also did not plead facts showing that the corporation’s statements were false or misleading when made, and the district court properly granted the motion to dismiss.
Judgment is affirmed.
Carpenters’ Pension Fund of Illinois v. Target Corporation (MLW No. 74848/Case No. 18-1831 – 10 pages) (U.S. Court of Appeals, 8th Circuit, Kobes, J.) Appealed from U.S. District Court, District of Minnesota, Ericksen, J. (Andrew Love, San Francisco, argued for appellant) (Wendy J. Wildung, Minneapolis, argued for appellee).
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