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Class-action suit in Furniture Brands bankruptcy dismissed

2015-02-04 03:31:20| Furniture - Topix.net

Shareholders who filed a class-action lawsuit against the former Furniture Brands International and two of its top executives have no proof to back up their allegations that the executives misrepresented the company's financial performance and manipulated the books so they would qualify for bonuses, a federal judge ruled last week. Without that evidence, the allegations "amount to fraud by hindsight," U.S. District Judge Henry Autrey wrote in his opinion dismissing the lawsuit.

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