Kid Brands Dodges Securities Suit Over Import Duties

Law360, New York (October 19, 2012, 10:29 PM EDT) -- A New Jersey federal judge on Wednesday again tossed a proposed class action against children’s product maker Kid Brands Inc. by investors claiming the company had hid misconduct by its subsidiaries including avoiding certain import duties.

U.S. District Judge Jose L. Linares, who had previously dismissed the investors’ claims in March but allowed them to amend their suit, this time dismissed their second amended complaint with prejudice, saying that they still had not sufficiently shown that Kid Brands board members knew about its subsidiaries’ alleged misconduct...
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