Visteon Victorious In Shareholder Securities Suit

Law360, New York (September 6, 2006, 12:00 AM EDT) -- A federal judge has dismissed a class action lawsuit that accused Visteon Corp. and four top executives of defrauding shareholders out of billions of dollars.

The plaintiffs, who all purchased Visteon stock between June 28, 2000 and Jan. 31, 2005, alleged that the auto parts supplier withheld and provided false information regarding its spin-off from Ford Motor Co. at the start of the class action period.

But Judge Robert H. Cleland of the U.S. District Court in Detroit rejected that argument, saying analyst reports provided proof...
To view the full article, register now.