Share Forecast Claims Trimmed In Best Buy Securities Action

Law360, New York (August 5, 2013, 7:33 PM EDT) -- A Minnesota federal judge Monday pared down a proposed securities class action accusing Best Buy Co. Inc. and top executives of misleading shareholders about its performance and expectations, finding certain statements about a projected earnings per share increase are protected by safe harbor.

The court found that some statements made by Best Buy in September 2010 about its EPS guidance are covered by the safe harbor provision under the Private Securities Litigation Reform Act, trimming the suit's allegations that the electronics retailer lied about its sales...
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Case Information

Case Title

IBEW Local 98 Pension Fund et al v. Best Buy Co., Inc. et al


Case Number

0:11-cv-00429

Court

Minnesota

Nature of Suit

Securities/Commodities

Judge

Donovan W. Frank

Date Filed

February 18, 2011

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