Agilon Health Inc. investors failed to adequately support insider trading claims against its private equity sponsor Clayton, Dubilier & Rice LLC, a federal court said after taking a second look at the proposed class action.
The investors identified only one CD&R entity, CD&R Vector Holdings LP, as a purchaser or seller of Agilon securities as needed for an insider trading claim under Section 20A of the Securities Exchange Act, according to the US District Court for the Western District of Texas. That meant insider trading claims against the rest of the CD&R companies and related individuals were deficient, Judge David ...
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