United States: Central District Of California Dismisses Putative Class Action Against Medical Apparel Company For Failure To Adequately Allege Scienter And Falsity - Shearman & Sterling LLP

United States: Central District Of California Dismisses Putative Class Action Against Medical Apparel Company For Failure To Adequately Allege Scienter And Falsity - Shearman & Sterling LLP

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The Court dismissed the Exchange Act claims for failure to plead scienter and dismissed the Securities Act claims for failure to plead falsity, while also granting leave to replead those claims.

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