je.st
news
Electronics firm's securities fraud case reinstated
2015-06-24 19:06:12| Electronics - Topix.net
A federal appeals court has reinstated a securities fraud class action lawsuit against an electronics company and three of its officers, who were charged with "knowingly and recklessly" propping up the company's stock price when it was being considered for an acquisition that eventually fell through. Tuesday's ruling by the U.S. Court of Appeals for the District of Columbia Circuit in In Re: Harman International Industries Inc. Securities Litigation focused on two statements officials of Stamford, Connecticut-based Harman allegedly made during conference calls with analysts in April and September 2007, and a third that was made in its annual report in August 2007.
Tags: case
electronics
securities
firms
Category:Electronics and Electrical