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Technical Chemicals and Products, Inc.

This article was originally published in The Gray Sheet

Executive Summary

Securities class action lawsuit is dismissed July 3 in the U.S. District Court for the southern district of Florida. Judge William Dimitrouleas found the shareholders' claims of fraud by TCPI, related to alleged false and misleading statements about the development status of the firm's TD glucose monitoring system, did not meet the pleading requirements of the Private Securities Litigation Reform Act of 1995. The plaintiff shareholders failed "to plead with sufficient particularity" the facts upon which they based their claims, the judge writes, and have until July 24 to file a second amended complaint with the court
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