Best Buy Dodges Securities Class Action Over Stock Crash

Law360, New York (March 20, 2012, 10:31 PM EDT) -- Best Buy Co. Inc. on Tuesday escaped a putative class action claiming the company misled shareholders about its performance and share price expectations, when a Minnesota federal judge ruled there was no evidence the company had knowledge making its statements false or misleading.

U.S. District Judge Donovan W. Frank dismissed with prejudice a consolidated putative class action alleging the electronics retailer lied about its sales performance and earnings forecast, causing shareholders to lose money when its stock price dropped late in 2010.

Lead plaintiff Marion Haynes...
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