Law360, New York (September 16, 2011, 5:24 PM ET) -- TD Securities Inc. won dismissal Thursday from a putative investor class action alleging its client Oilsands Quest Inc. had overstated asset valuations by more than $136 million, causing a collapse of the company's stock when the error was revealed.
The plaintiffs had alleged that TD Securities, as a so-called control person of Oilsands Quest, was in a position to influence the company's financial conduct and thus was partially responsible for its downfall. Following briefing on the matter in New York federal court, U.S. District Judge Jed...
TD Exits Oilsands Investors' $136M Overvaluation Suit
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