CompuCredit Wins Dismissal Of Securities Action

Law360, New York (December 7, 2009, 7:35 PM EST) -- A federal judge has tossed a proposed securities class action alleging CompuCredit Corp. improperly pumped up its stock price by touting the company's strengths and downplaying the potential results of government probes.

Judge Thomas W. Thrash of the U.S. District Court for the Northern District of Georgia on Friday granted CompuCredit's motion to dismiss the complaint, ruling that the plaintiffs had failed to adequately plead their case as required under federal securities laws but giving the plaintiffs 30 days to file an amended complaint.

The lawsuit,...
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