Judge Tosses AuthenTec Shareholder Action

Law360, New York (September 24, 2009, 7:43 PM EDT) -- AuthenTec Inc. has won the dismissal of a putative securities class action alleging the semiconductor maker and its top executives misled investors about the company's financial health.

Judge John Antoon II of the U.S. District Court for the Middle District of Florida on Thursday tossed the amended complaint for good, saying the shareholder plaintiffs had failed to make a case for fraud.

Investors Brian Hoffman and Robert Caruso alleged in their amended complaint that AuthenTec, CEO F. Scott Moddy and Chief Financial Officer Gary Larsen failed...
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