Cahill Litigation Team Wins Dismissal of Class Action Against Global Power Equipment Group
A Cahill litigation team has prevailed on behalf of Global Power Equipment Group Inc. in obtaining dismissal of a shareholder class action complaint. An alleged class of shareholders brought claims under the Securities Exchange Act of 1934, alleging various misstatements in the Company’s financial reports. On December 27, 2017, Chief Judge Barbara Lynn of the U.S. District Court for the Northern District of Texas granted the Company’s motion to dismiss the complaint in its entirety. The Court found that plaintiffs failed to plead facts supporting a strong inference of scienter and failed to allege loss causation with regard to certain of the alleged misstatements.