Smart Tech Investors' $660M Suit Over IPO Will Proceed

Law360, New York (August 21, 2012, 7:03 PM EDT) -- A New York judge ruled Tuesday that investors can proceed with their class action accusing educational technology company Smart Technologies Inc. of failing to disclose before its $660 million initial public offering that demand for its digital whiteboards was slowing down.

The decision means investors led by the City of Miami General Employees' and Sanitation Employees' Retirement Fund can now proceed to discovery on claims that Smart Tech made material misstatements of fact in the IPO prospectus about the demand for its “core” interactive whiteboards and...
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