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...
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