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5th Circ. Backs Toss Of Investor Suit Against Oil Field Co.

By Katryna Perera ( December 15, 2023, 9:56 PM EST) -- The Fifth Circuit has affirmed the dismissal of a proposed securities fraud class action against a publicly traded oil field services company and its executives that alleged they knew a company restructuring plan would fail, finding the lower court correctly ruled that the investor class failed to plead that the defendants knowingly made misrepresentations and omissions....

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