Proving it occurred after the merger's close requires evidence that executives intentionally or recklessly misled investors, a much harder case to make.
A senior Metropolitan police officer has been found to have "recklessly" misled two pathologists over the possible cause of Ian Tomlinson's death at the G20 protests in London.
A federal judge dismissed the case late last month, ruling that plaintiffs failed to establish that Kaplan or the Washington Post Co. "knowingly or recklessly misled the market".
Finally, the FDA continues to recklessly mislead dairy producers and consumers with its false claim that "No significant difference has been shown between milk derived from rBGH-treated and non-rBGH treated cows".
An Emulex shareholder who says he lost $15,000 as a result of the hoax sued Bloomberg and Internet Wire on Thursday in federal court in New York, arguing they recklessly disseminated misleading information about Emulex.
While I think he has been horribly misled and recklessly enabled by news organizations to publicly make statements that will affect him for the rest of his life, I'd never demonize him as a person.
