Court Affirms Dismissal Of Adecco Securities Action

Law360, New York (November 26, 2007, 12:00 AM EST) -- Shareholders of Swiss employment firm Adecco SA have lost a bid to overturn a federal judge's summary dismissal of their amended securities fraud suit, with an appeals court ruling the plaintiffs had failed to prove their case.

In a decision issued Tuesday, the U.S. Court of Appeals for the Ninth Circuit affirmed a California district judge's decision to toss the lawsuit with prejudice for its inadequate showing of claims that the company and its executives scammed investors by understating its bad debts.

In a consolidated amended...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.