Judge Snuffs 'Futile' Securities Suit Against Mirant

Law360, New York (January 8, 2009, 12:00 AM EST) -- Calling the lawsuit defective, a federal judge has dismissed a consolidated securities class action against Mirant Corp. that accused the Atlanta-based energy trading firm of misleading investors about the value of its shares.

On Wednesday, Judge Richard W. Story of the U.S. District Court for the Northern District of Georgia granted motions from several groups of defendants to dismiss the fraud case because its allegations were found to be premised on omissions of material facts, among other reasons.

The defendants in the case include Mirant, as...
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