EnerNOC Investor's Action Nixed As Implausible

Law360, New York (May 13, 2009, 12:00 AM EDT) -- Finding that an EnerNOC Inc. shareholder's allegations “simply aren’t plausible,” a judge has dismissed a putative securities class action against the utility grid service provider over its recording of much steeper losses than projected in 2007.

Judge Rya W. Zobel of the U.S. District Court for the District of Massachusetts on Wednesday granted EnerNOC's bid to dismiss investor Matt Gunther's complaint in its entirety on the grounds that Gunther failed to sufficiently plead his claims.

Primarily addressing fraud and misrepresentation-related claims made under sections 10(b) and...
To view the full article, register now.