Cooper Cos. Fails To Shake Securities Class Action

Law360, New York (March 5, 2010, 5:59 PM EST) -- A federal judge has refused to dismiss a securities class action accusing Cooper Cos. Inc. and its officers of inflating the contact lens maker's stock price by hiding problems they were having with the business.

Judge Cormac J. Carney of the U.S. District Court for the Central District of California on Thursday rejected an argument that the plaintiffs could not show loss causation, scienter or that the defendants' alleged false statements were material.

He denied summary judgment to Cooper and three individual officers: board chairman and...
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