Judge Writes Off WaPo Securities Suit Over Kaplan Unit

Law360, New York (December 23, 2011, 4:37 PM EST) -- A Washington federal judge on Friday tossed a proposed securities class action claiming The Washington Post Co.'s higher education division Kaplan Inc. failed to disclose the financial impact of a government crackdown on for-profit colleges that caused the company's stock price to plunge.

U.S. District Judge Barbara J. Rothstein said the allegations brought by named plaintiffs Plumbers Local 200 Pension Fund failed to show that the Washington Post and its top management intended to defraud investors when they allegedly issued misleading statements about its Kaplan division,...
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