Tag: Without Merit

Telling Investors that a Lawsuit is “Without Merit” Comes With Risks — Alto Litigation

When faced with a lawsuit, it’s common for a public company to argue in the court of public opinion that the claims asserted against it are “without merit.” However, as a recent U.S. District Court of the District of Massachusetts ruling in the case of City of Fort Lauderdale Police & Firefighters’ Retirement System v. Pegasystems Inc. demonstrates, such an…

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Without Merit | The 10b-5 Daily

When faced with litigation, companies often publicly opine that the case is “without merit.”  But if the company loses the litigation, can investors then bring a securities class action alleging that opinion was false? In City of Fort Lauderdale Police and Firefighters’ Retirement Sys. v. Pegasystems, Inc., 2023 WL 4706741 (D. Mass. July 24, 2023), the court considered a securities class…

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