6th Circ. Stings Visteon Shareholders

Law360, New York (August 27, 2008, 12:00 AM EDT) -- An appeals court on Tuesday affirmed a lower court’s decision to dismiss a class action that accused auto parts supplier Visteon Corp. and its top brass of defrauding shareholders out of billions of dollars.

Judges John M. Rogers, David W. McKeague and John R. Adams of the U.S. Court of Appeals for the Sixth Circuit found no evidence of an alleged scheme to deceive investors and reasoned that shareholders sought to sue Visteon for little more than the restatement of its financials, which caused stock value...
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