G4S Hits Back At 2nd Investor Suit Over Gov't Contract Fraud
Law360, London (December 23, 2020, 2:44 PM GMT) -- Outsourcing giant G4S has hit back at a shareholder lawsuit alleging that the company artificially inflated its share price by concealing fraud in its government contracts, arguing in court documents that the investors have failed to prove any connection between statements to the market and financial losses.
G4S PLC said in a defense filed at the High Court on Monday that the lawsuit brought by the pension fund for Air Canada, the country's flagship carrier, and 88 others is "inadequately pleaded and largely incoherent." The claimants allege that they relied on misleading statements in the security service company's annual reports about its...
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