U.S. Securities and Exchange Commission building in Washington, D.C. Credit: Diego M. Radzinschi/ALM Judge Dismisses Securities Suit Against Ex-CEO Accused of Charging Personal Expenses to Company Credit Card
The complaint "is wholly devoid of factual allegations identifying circumstances that show Hug had both motive and opportunity to engage in such conduct, or that show he acted with conscious misbehavior or recklessness," U.S. District Judge Esther Salas said.
March 28, 2022 at 01:59 PM
4 minute read
Securities Litigation
A securities fraud case against the former CEO of a Jersey City company, who allegedly charged $100,000 worth of resort vacations, designer clothes and other personal items to his company as business expenses, has been dismissed for lack of specificity.
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