Olive Garden Owner Gets Shareholder Suit Tossed

Law360, New York (August 12, 2009, 3:33 PM EDT) -- Darden Restaurants Inc., owner of the Red Lobster and Olive Garden franchises, has won the dismissal of a putative securities class action that accused the company and its top two executives of misleading investors to inflate the price of the company's stock.

The complaint against Darden, which owns and operates more than 1,700 restaurants in the U.S. and Canada, failed to establish either fraud or the requisite intent, U.S. District Judge Mary Scriven of the Middle District of Florida ruled on Tuesday.

The suit was first...
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