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Litigation

Jun. 28, 2013

Judge grants Venable's motion to dismiss suit over Facebook stock

A federal judge granted Venable LLP's motion to dismiss a case Monday against the firm and one of its former partners involving the fraudulent sale of Facebook stock, but left room for the plaintiff — a Boston-based hedge fund — to amend its initial complaint.

By Henry Meier
Daily Journal Staff Writer

A federal judge granted Venable LLP's motion to dismiss a case Monday against the firm and one of its former partners involving the fraudulent sale of Facebook stock, but left room for the plaintiff - a Boston-based hedge fund - to amend its initial complaint. U.S. District Court Judge Otis D. Wright ruled that ESG Capital's complaint failed meet the level of specificity required to satisfy preliminary pleading standards to move th...

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