Judge Hangs Up Motorola Securities Action

Law360, New York (February 28, 2011, 8:54 PM EST) -- A federal judge in Chicago on Monday threw out a putative securities class action against Motorola Inc. that claimed false statements and omissions inflated the company's stock by billions of dollars before an earnings release caused shares to plummet.

Judge Virginia M. Kendall of the U.S. District Court for the Northern District of Illinois signed a 23-page memorandum opinion and order granting a motion to dismiss from the case with prejudice defendants Motorola, ex-Motorola CEO Edward J. Zander, former Motorola chief financial officer Thomas Meredith and Gregory...
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