Appeals Court Boots Electrical Co. Securities Suit

Law360, New York (August 22, 2007, 12:00 AM EDT) -- An appeals court has affirmed a lower court decision dismissing a securities suit brought by a labor union's pension fund against Integrated Electrical Services Inc.

In the decision on Tuesday, the three-judge panel of the U.S. Court Appeals for the Fifth Circuit agreed with the lower court that the Central Laborers' Pension Fund failed to meet the pleading standards of the Private Securities Litigation Reform Act.

IES, which is a Houston-based publicly-traded company that provides electrical contracting services, made statements starting in April 2003 expressing confidence...
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