Investor Suit Over Aerospace Co.'s Sales Tactics Trimmed
Law360 (July 20, 2020, 5:45 PM EDT) -- Aerospace parts manufacturer Precision Castparts Corp. scored a partial early victory in a proposed class action over its sales strategies and financial projections, but an Oregon federal judge found that nearly half of the 44 alleged misstatements could potentially support securities fraud allegations.
While U.S. Magistrate Judge Stacie F. Beckerman said that some of PCC's statements were forward-looking statements protected by the safe harbor provision of the Private Securities Litigation Reform Act, others were mixed statements that could not yet be discounted.
She also denied the shareholders' competing partial summary judgment bid, ruling that questions of fact remain, according to an...
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