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Plaintiffs, purchasers of the common stock of a sportswear manufacturing company, commenced a class action litigation against the company and two of its officers and directors, alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934
The plaintiff filed a complaint in California state court alleging four state law causes of action, including claims for fraud, in connection with a "hostile takeover" of the plaintiff
