Securities Action V. Halliburton Tossed — For Now

Law360, New York (March 31, 2009, 12:00 AM EDT) -- A federal judge has tossed out a putative securities fraud class action against oil giant Halliburton Co., ruling that the plaintiffs have not met the pleading requirements yet, but leaving the door open for them to refile their charges.

Judge Barbara Lynn of the U.S. District Court for the Northern District of Texas on Tuesday dismissed without prejudice the suit brought by lead plaintiff Patricia Magruder, ruling that the proposed class had failed to allege economic loss and had engaged in immaterial puffery, among other problems....
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