Valley Forge Exec Knocks Investor’s Illegal Export Suit

Law360, Washington (January 21, 2014, 1:37 PM ET) -- A co-founder of aerospace technology company Valley Forge Composite Technologies Inc. asked a California federal court Friday to toss a putative shareholder class action over its failure to disclose alleged illegal exports, claiming the suit's “puzzle piece” allegations fall flat.

Larry K. Wilhide told the court in his motion to dismiss that the shareholder suit inappropriately pieced together a Valley Forge press release with several disclosures made to the U.S. Securities and Exchange Commission to bolster their allegations that the company inflated its stock price and...
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