Securities
Dec. 10, 2024
Federal judge tosses indictments against recycling company investors
While the two defendants had tried to promote the Loop Industries stock and keep values afloat, there was no evidence that they had lied, U.S. District Judge Cynthia Bashant said when granting motions to dismiss the indictments.
A federal judge in San Diego threw out two indictments in a securities fraud case in San Diego after a jury was unable to come to a consensus based on the government's evidence.
U.S. District Judge Cynthia Bashant granted motions to dismiss filed on behalf of Jonathan Destler and Robert Lazerus, two shareholders of recycling company Loop Industries Inc., saying the government's theories were "all over the place" in a Dec. 2 hearing.
"I just don'...
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