Intervoice Shareholders Lose Class Certification

Law360, New York (October 27, 2009, 6:33 PM EDT) -- A federal judge has denied class certification to shareholders accusing Intervoice-Brite Inc. of securities fraud, ruling on remand that the lead plaintiffs failed to show that the company’s alleged misrepresentations about a 1999 merger caused classwide losses.

On Monday, Judge Ed Kinkeade of the U.S. District Court for the Northern District of Texas revisited the class certification grant in light of new guidance from an appeals court and concluded that the lead plaintiffs did not demonstrate that the shareholder losses resulted from the defendants’ alleged fraud....
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