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...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!