Securities Suit V. America Service Group Stays Alive

Law360, New York (April 1, 2009, 12:00 AM EDT) -- A judge has refused to grant a motion by America Service Group Inc. to dismiss a securities suit alleging the health care company manipulated its projected costs and profits.

Judge William J. Haynes Jr. of the U.S. District Court for the Middle District of Tennessee, rejected ASG's request to throw out the suit, finding shareholders had alleged enough facts to make their case.

The plaintiffs claim that from September 2003 to June 2006, ASG and certain executives artificially inflated the price of the company's stock by...
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