Judge Tosses Cooper Co. Investor Suit Over Lens Recall

Law360, Los Angeles (January 8, 2013, 8:20 PM EST) -- A California federal judge on Monday tossed a proposed shareholder class action against Cooper Companies Inc., finding that the plaintiffs failed to support their claims that the medical products company and three executives lied about a recall of defective contact lenses in order to inflate Cooper’s share price.

U.S. District Judge Yvonne Gonzalez Rogers granted Cooper’s bid to dismiss the suit, saying that under the pleading requirements of the Private Securities Litigation Reform Act, the investors failed to adequately support their scienter claims that Cooper executives...
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