Judge Boots Kid Brands Import Fee Action

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...
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