Sunday, March 31, 2013
Skadden Knocks Out Securities Class Action Against RIM
A federal judge in Manhattan has dismissed a proposed securities fraud class action brought on behalf of individuals who bought Research in Motion stock between December 2010 and June 2011. The judge ruled that investors, who saw the company's stock price dive 60 percent, couldn't point to any actionable misstatements by RIM executives or any intent by the company to defraud shareholders.
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