NEW YORK (Legal Newsline) — A stockholder has filed a class action lawsuit against a British company and its board members, alleging violation of federal law.
Clayton Hollister filed a complaint, individually and on behalf of all others similarly situated, Feb. 1 in U.S. District Court for the Southern District of New York against BT Group PLC, Ian Livingston, Gavin E. Patterson, Tony Chanmugam, Simon Jonathan Lowth and Luis Alvarez, alleging they issued false and misleading statements regarding the company.
According to the complaint, Hollister was damaged monetarily from purchasing BT Group securities at inflated prices. The plaintiff alleges the defendants made materially false and misleading statements in order to artificially inflate prices of BT Group securities.
Hollister seeks trial by jury, compensatory damages, interest, attorney fees and all other relief the court deems just and proper. He is represented by attorneys Samuel H. Rudman and Mario Alba Jr. of Robbins Geller Rudman & Dowd LLP in Melville, New York, and by Corey D. Holzer and Marshall Dees of Holzer & Holzer LLC in Atlanta.
U.S. District Court for the Southern District of New York case number 1:17-cv-00777-UA