Investors Can't Apply Twiqbal To Sprint Answers: Judge

Law360, New York (September 29, 2011, 7:35 PM EDT) -- The heightened standard of review applied in the U.S. Supreme Court’s Twombly and Iqbal rulings shouldn’t apply to an answer to a complaint, a Kansas federal judge ruled Thursday, shooting down a putative class of shareholders’ bid to strike parts of Sprint Nextel Corp.’s defense in a suit challenging a 2005 merger.

In their April motion to strike, the shareholders sought to stamp out Sprint Nextel’s defense against claims that Sprint Corp. executives withheld financial problems from investors for nearly three years after the company's $37.8...
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