Law360 (August 7, 2019, 8:56 PM EDT) -- A Brooklyn federal judge dismissed a shareholder derivative suit against pharmaceutical company Aceto Corp. and three executives, finding that the struggling company did not mislead investors by failing to predict the troubles that shut it down.
Judge Edward R. Korman of the U.S. District Court for the Eastern District of New York on Tuesday granted the bid to end the suit but allowed the plaintiffs to make further arguments.
He said he agreed with the Aceto principals that the company had “made abundant, candid disclosure about the serious issues facing Aceto” during the time period that the company’s investors allege they...
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