Chinese Education Co. Didn't Mislead Investors: Judge

Law360, New York (April 5, 2010, 2:24 PM EDT) -- A federal judge has thrown out a class action that alleged Chinese educational firm Noah Education Holdings Ltd. made false statements in its regulatory filings in connection with a $137 million initial public offering in 2007.

Judge Richard J. Sullivan of the U.S. District Court for the Southern District of New York issued the ruling Wednesday, saying Noah did not mislead investors when it allegedly did not disclose that it was experiencing higher materials costs for its handheld devices at the time of the IPO....
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