Wilkinson Stekloff Partners Secure Complete Dismissal of Securities Fraud Class Action

WASHINGTON – The Wilkinson Stekloff Team, led by Founding Partners Brant Bishop and Beth Wilkinson and partner Kosta Stojilkovic, won complete dismissal of a securities fraud class action case in the Eastern District of Virginia for client MAXIMUS Inc.  In August 2017, MAXIMUS was sued under sections 10(b) and 20(a) of the Securities Exchange Act of 1934, based on allegations that the company, along with several members of its executive team, had made false or misleading statements on earnings calls and in SEC filings concerning MAXIMUS’s performance on a major contract with the British government.

Led by Brant Bishop, Wilkinson Stekloff moved to dismiss the amended complaint with prejudice, arguing that plaintiffs failed to plead facts giving rise to an inference that MAXIMUS acted with scienter, or an intent to defraud.  Wilkinson Stekloff also argued that plaintiff failed to plead materiality as to certain alleged misstatements or omissions, and also failed to plead loss causation.

Bishop argued the motion to dismiss before Judge Anthony J. Trenga on March 16, 2018.  Nearly six months later, the court dismissed the complaint, holding that none of the statements at issue were actionable under the securities laws.

The case is captioned In re MAXIMUS, Inc. Securities Litig., 1:17-cv-0884 (AJT/IDD).