RHI Seeks To Toss Investors' Suit Over IPO

Law360, New York (May 4, 2010, 2:02 PM EDT) -- RHI Entertainment Inc. is seeking the dismissal of a putative securities class action that claims the media company and its executives misled investors by issuing falsely rosy statements about its business prospects ahead of a 2008 initial public offering.

The defendant asked the U.S. District Court for the Southern District of New York on Monday to dismiss with prejudice the plaintiffs' amended class action complaint, arguing that the stockholders have failed to state adequate claims for relief under sections 11 and 15 of the Securities Act...
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