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Judge dismisses shareholder lawsuit against Kmart

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dArKeR Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-03 08:16 AM
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Judge dismisses shareholder lawsuit against Kmart
A federal judge has dismissed a shareholder lawsuit that accused five former Kmart Corp. executives and the company's accounting firm of misleading investors.

U.S. District Judge Gerald Rosen on Friday threw out the 18-month-old lawsuit on technical legal grounds.

Congress may have set a "virtually unreachable" standard for lawsuits that charge private companies with securities fraud, he said.

http://theglobeandmail.com/servlet/story/RTGAM.20030921.wkmart0920/BNStory/Business/
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