Victoria's Secret Parent Escapes Securities Fraud Suit

Law360, New York (March 30, 2011, 1:40 PM EDT) -- An Ohio federal judge on Tuesday trashed a putative securities fraud class action alleging Limited Brands Inc., the owner of lingerie titan Victoria’s Secret, deceived investors about attempts to modernize its distribution and online sales systems.

Judge Edmund A. Sargus of the U.S. District Court for the Southern District of Ohio quickly dismantled the lawsuit, concluding that the plaintiffs tried to fashion a “nefarious” securities fraud scheme by Limited’s top brass out of normal business setbacks and corporate puffery.

The complaint alleged that Limited, which sells...
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