Sanctions are being leveled at attorneys for plaintiffs in a securities class action who based their complaint on a mistaken reading of a business magazine that they later withdrew.
Southern District Judge Denise Cote ordered Kenneth J. Vianale of Vianale & Vianale in Boca Raton, Fla., and a second plaintiffs’ lawyer to pay all the defendants’ attorney’s fees and costs after rejecting Mr. Vianale’s defense that he misread a news article on internal e-mails that allegedly incriminated the defendant company.
