Law360, New York (March 8, 2012, 7:17 PM EST) -- A New Jersey federal judge on Thursday dismissed a putative securities fraud class action by investors who alleged that Kid Brands Inc. concealed underpayments of import duties by its subsidiaries, on the grounds that the investors didn't say the parent knew of the wrongdoing.
U.S. District Judge Jose L. Linares said that named plaintiff Shah Rahman had not pled that children's product maker Kid Brands knew that its subsidiaries LaJobi Industries Inc., CoCaLo Inc. and Kids Line LLC violated federal anti-dumping laws by underpaying customs duties on products imported into the U.S. from China before the company disclosed the misconduct to...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!