Class Fails Certification In ATM-Investor Action

Law360, New York (October 30, 2008, 12:00 AM EDT) -- A purported securities class action on behalf of investors who allegedly lost millions of dollars in an ATM terminal-investment scheme has failed to pass muster with a federal judge in Florida.

Judge Gregory A. Presnell issued an order Tuesday in the U.S. District Court for the Middle District of Florida denying class certification to the plaintiffs and dismissing a third amended complaint on the grounds that it did not conform with the requirements of the Private Securities and Litigation Reform Act.

“While the plaintiffs’ designated lead...
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