Court Flings Dell Shareholder Class Action Aside

Law360, New York (October 10, 2008, 12:00 AM EDT) -- A federal judge has tossed a consolidated shareholder class action alleging Dell Inc., its top brass and PricewaterhouseCoopers LLP schemed to defraud investors, ruling that the plaintiffs failed conclusively to meet pleading standards.

Judge Sam Sparks of the U.S. District Court for the Western District of Texas handed down on Oct. 6 a 49-page opinion roundly dismissing allegations that Dell’s founder Michael Dell, former President Kevin Rollins, former Chief Financial Officer James Schneider and auditor PwC misled the public, concealed the company’s dwindling profits and profited...
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