Orbital Says Cert. Should Be Denied In Stock-Drop Suit

By Sophia Morris (July 23, 2018, 8:06 PM EDT) -- Orbital ATK Inc. hit back at a bid for class certification from investors who accuse the defense contractor of misleading them over losses on a $2.3 billion U.S. Army ammunition deal, telling a Virginia federal court Friday that the investors haven't shown a drop in the company's stock price directly stemmed from the alleged misrepresentations.

The contractor, now known as Northrop Grumman Innovation Systems Inc., said class certification should be denied for the investors because they have not provided proof that the company's stock price was inflated or that the drop in its share price was the direct result of the...

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