Scienter Claims In Terminix Securities Suit Not Properly Credited, Fund Says

Mealey's (February 13, 2023, 6:20 PM EST) -- NEW YORK — A federal judge in New York erred in dismissing scheme liability claims brought by a shareholder in a securities class action against Terminix Global Holdings Inc. and two of its senior executives for failure to plead scienter because the shareholder sufficiently pleaded that the defendants knowingly or recklessly defrauded investors regarding the effect that termite damage issues in Alabama were having on the company’s business and financial condition, Terminix argues in an appellant brief filed in the Sixth Circuit U.S. Court of Appeals....