Class Cert. Denied In China Agritech Shareholder Suit

Law360, New York (May 7, 2012, 6:24 PM EDT) -- A California federal judge on Thursday declined to certify a class of shareholders in a suit accusing fertilizer manufacturer China Agritech Inc. of extensive fraud, saying the lead plaintiff did not establish that the company's activities caused its stock price to drop.

U.S. District Judge R. Gary Klausner found that certification was inappropriate because the expert witnesses advanced by lead plaintiff Theodore E. Dean in support of his certification bid differed in their opinions as to why Agritech’s stock crashed.

“This fact, alone, leads the court...
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