Securities Litigation: ADVO

Kelleher v. ADVO, Inc
USDC Connecticut
Disclosures
Merger; Loss Causation; Control Person

Company background

Litigation background

Lead plaintiffs

Complaint

Answer

Claims

Motion to dismiss

Opinion

The court concludes that the amended complaint's detailed allegations as to the individual defendants' positions within the company, attendance at specified meetings, receipt of specified information, and specific actions allegedly taken in order to perpetuate the alleged fraud, are sufficient to meet the pleading requirements of a sec. 20(a) cause of action for control-person liability, under either standard that is applied to such cases. Further, as described above, the amended complaint adequately alleges the underlying sec. 10(b) cause of action.

Lead plaintiff

Company defense

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