Investors Fail To Show That Firm, Others Materially Misstated Investment Risks

Mealey's (May 25, 2022, 2:15 PM EDT) -- BOSTON — A First Circuit U.S. Court of Appeals panel on May 20 affirmed a federal district court’s dismissal of investor securities class claims, ruling that although the investors “take up lots of pages trying to get past the go,” they failed to sufficiently plead any material misrepresentations to support their allegations that a securities and money management firm and several of its related entities misrepresented the risk associated with Puerto Rico municipal bonds (PRMBs)....