ELR Citation: ELR 20197
No(s). 86 Civ. 7453 (MGC) (S.D.N.Y. Jul 31, 1989)

The court holds that a company had no duty under securities law to disclose to its stockholders that its subsidiary was operating a facility in violation of environmental laws and thus subjecting itself to significant liability. Plaintiffs in this class action suit allege that the company violated �...