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'Weak' Evidence Dooms Booz Allen Investors' Stock-Drop Suit

Law360 (February 9, 2018, 4:27 PM EST) -- Booz Allen Hamilton Holding Corp. escaped a proposed class action from two union pension funds that sued the contractor alleging it misled shareholders by failing to disclose it was under federal investigation, with a Virginia federal judge ruling that the fraud claims relied on “weak” evidence.

U.S. District Court Judge Leonie M. Brinkema said Thursday that the Uniformed Sanitationmen’s Association Local 831 Compensation Accrual Fund and Teamsters Locals Nos. 175 & 505 Pension Trust Fund had not provided enough information to support their claims that Booz...
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