Judge Tosses Securities Suit Against Carter's, PWC

Law360, New York (March 18, 2011, 8:34 PM EDT) -- A Georgia federal judge on Wednesday dismissed a securities fraud class action against Carter’s Inc. and PricewaterhouseCoopers LLP, saying the plaintiffs failed to sufficiently allege that the defendants intended to defraud investors.

In an opinion and order, Judge J. Owen Forrester of the U.S. District Court for the Northern District of Georgia said that simply alleging a widespread fraud may have occurred was not enough. Instead, the allegations must create a strong inference that the defendants knew about the alleged fraud when they made the purportedly...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.