MetroPCS Dodges Securities Class Action

Law360, New York (March 28, 2011, 4:00 PM EDT) -- A Texas federal judge on Friday dismissed a securities class action accusing MetroPCS Communications Inc. executives of lying about the company's prospects in public statements.

Plaintiff Kevin Hopson's allegations were too weak to support an inference that the executives intended to defraud the stock market, Judge A. Joe Fish of the U.S. District Court for the Northern District of Texas said.

MetroPCS, the U.S.' fifth largest cellular company, sells cellular services on a no-contract, flat-rate basis in large U.S. cities.

Hopson sued the company after stock...
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