Law360, New York (July 25, 2011, 2:33 PM ET) -- A Texas federal judge put the kibosh Friday on a proposed class action accusing The Men's Wearhouse Inc. insiders of making $16.7 million from inflated stock prices, admonishing shareholders for doing "exactly what the law was reformed to stop."
The plaintiff, Material Yard Workers Local 1175 Benefit Funds, hadn't shown anything beyond a drop in stock price to indicate fraud, according to U.S. District Judge Lynn N. Hughes. The fund "has taken an unfortunate result — the drop in the price of stock in Men's Wearhouse...
Men's Wearhouse Securities Suit Gets The Boot
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