This is the court's decision denying defendants' motion to dismiss in a case that covers all purchasers of the common stock of Exide Technologies (“Exide”) during the period from May 5, 2004 through May 17, 2005 and alleges that Defendants misrepresented Exide’s financial condition by concealing that the Company was unable to maintain the ratio of debt to equity that was required under a secured credit facility. The court held that the plaintiffs' complaint adequately alleged the elements of securities fraud under Sections 10(b) and 10b-5 of the Securities Act as well as controlling person liability under Section 20(a).
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