Judge Keeps ShoreTel IPO Case Alive

Law360, New York (August 20, 2009, 3:21 PM EDT) -- A judge has allowed a number of claims to go forward in a proposed securities class action brought by ShoreTel Inc. investors who say they were misled by an untrue registration statement issued in connection with the company's 2007 initial public offering.

In an Aug. 19 order Judge Charles R. Breyer of the U.S. District Court for the Northern District of California dismissed the plaintiffs' Section 11 claims made under the Securities Act of 1933 as to statements made regarding the monitoring of key financial metrics...
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