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Second Circuit Breathes New Life Into Company Stock Litigation
Trucker Huss
Feb. 6, 2019
"[T]he court held that the plaintiffs had sufficiently pled that no prudent fiduciary in the fiduciaries' position could have concluded that an early disclosure would do more harm than good to the Fund.... It is somewhat difficult to reconcile [this case] with the decisions in other post-Dudenhoeffer decisions, in which courts have consistently found that a prudent fiduciary may very reasonably fear an early disclosure would lead to a drop in stock price." [Jander v. Ret. Plans Comm. of IBM, No. 17-3518 (2d Cir. Dec. 10, 2018)]
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