Court Dismisses Securities Class Action Against TCP International

On behalf of TCP International Holdings, Ltd., Skadden obtained the dismissal of a consolidated securities class action in which the plaintiff claimed that TCP's IPO registration statement and prospectus contained material misstatements or omissions. On September 30, Judge Dan Aaron Polster of the U.S. District Court for the Northern District of Ohio granted the defendants' motion to dismiss, holding that the plaintiff failed to plead facts to show that the relevant statements were false when made and failed to conduct an independent investigation into the facts alleged in the complaint.