Scienter Properly Pleaded Against Energy Drink Maker, CFO, Shareholders Argue

Mealey's (March 16, 2023, 2:14 PM EDT) -- WEST PALM BEACH, Fla. — A federal judge in Florida should overrule objections to a magistrate judge’s report and recommendation that the judge sustain claims made by lead plaintiffs in a shareholder class action that an energy drink manufacturer and its chief financial officer (CFO) fraudulently overstated the company’s financial statements because the lead plaintiffs sufficiently pleaded scienter against both defendants, the lead plaintiffs argue in an opposition brief filed in Florida federal court....