23 Mar 2006
Akron, Ohio - The Goodyear Tire & Rubber Company has announced that United States District Court Judge John Adams ordered the dismissal of a class action lawsuit alleging securities fraud filed against the company and certain of its current and former officers. The suit relates to Goodyear's previous restatement of its financial results.
In its ruling today, said Goodyear, the Court found that the plaintiffs had failed to sufficiently set forth particularized facts to support their claim.
Goodyear has also asked the Court to dismiss two companion cases pending before Judge Adams: a shareholder derivative action and an action based on alleged ERISA violations.
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Press release from Goodyear
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