Court dismissed class action complaint alleging that St. Joe deceived investors about the value of properties located in the Florida panhandle. Court held that "Plaintiffs claims of misrepresentation are insufficient to meet the standard of pleading fraud with particularity because they fail to allege that Defendants acted with the requisite scienter and made statements that they knew were materially false at the time. Additionally, Plaintiff has failed to establish loss causation."
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Securities Law Updates
Federal, 11th Circuit, Florida |
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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