Sasol Ltd. beat some claims in a would-be class suit accusing it of misleading investors about a Louisiana chemical project after a New York federal district judge partially dismissed the case for insufficient misrepresentation allegations.
Investors failed to properly allege that the South African chemical and energy company misrepresented the adequacy of internal controls for the Lake Charles Chemical Project, the U.S. District Court for the Southern District of New York said Monday. But other parts of the suit can go forward, Judge Jed S. Rakoff’s opinion said.
Sasol argued that the investors didn’t “allege any misrepresentations or omissions.” That ...
