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Jefferies Financial Shareholder Loses Improper Jet Use Claim

Sept. 29, 2022, 5:10 PM

A Jefferies Financial Group Inc. shareholder failed to show that the company’s senior officers violated federal law by issuing materially false statements about the alleged misuse of corporate jets, a New York federal district court said.

Stanley Rubenstein didn’t establish a violation of Section 14(a) of the Securities Exchange Act because he didn’t show that the officers’ alleged omissions about its corporate aircraft program caused an injury, Judge Paul A. Crotty of the US District Court for the Southern District of New York said in a Wednesday opinion.

  • Court disagreed that shareholders were deprived of right to have a say ...