2nd Circuit Panel Upholds Denial Of Leave To Amend In AT&T Stock-Drop Suit

Mealey's (December 15, 2022, 1:17 PM EST) -- NEW YORK — A federal district court did not err in denying a request for leave to amend in a shareholder class action against AT&T Inc. and others stemming from AT&T’s alleged misrepresentations concealing the company’s true business and financial condition in connection with its launch of its internet-based TV streaming platform because the shareholders failed to sufficiently plead any actionable misstatements or omissions in bringing their federal securities law claim, a Second Circuit U.S. Court of Appeals panel affirmed....