Carbonite Inc. must defend claims that it misled investors about an allegedly nonfunctional data recovery product on a classwide basis, a federal court in Massachusetts ruled.
The institutional investor selected to lead the class, the Construction Industry and Laborers’ Joint Pension Trust, is a typical and adequate representative, and common issues predominate over individualized ones, Judge Leo T. Sorokin said July 14 for the US District Court for the District of Massachusetts.
The investors suing the software company saw their securities fraud case thrown out at an earlier stage of the proceedings, but the US Court of Appeals for the ...
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