Cybersecurity Firm's Adviser Ducks Investor Fraud Suit

Law360 (June 13, 2019, 8:21 PM EDT) -- A principal adviser to a New Jersey-based cybersecurity firm has escaped a lawsuit alleging he and the company’s CEO duped investors into providing $1.25 million in financing to the business, with a federal judge ruling the complaint failed to articulate the adviser's purported lies.

U.S. District Judge Susan D. Wigenton on Wednesday granted Jeffrey T. Roney’s motion to toss the claims against him in connection with Log Storm Security Inc.’s default on the investors’ secured promissory notes, finding the suit “does not state with any particularity what representations Roney made, false or otherwise.”

“It is unclear from the complaint what Roney...

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