Investors File Securities Class Action Lawsuit Against Schweitzer-Mauduit International, Inc. (SWM) Over Low Ignition Propensity (LIP) Paper Competition
A securities class action lawsuit was filed against Schweitzer-Mauduit International, Inc. (SWM) in the United States District Court for the Northern District of Georgia on behalf of purchasers of Schweitzer-Mauduit International, Inc. (SWM) stock during the period between August 5, 2009 and February 10, 2010 (the class period), for violations of the federal securities laws, according to a securities class action lawsuit filing news report.
The Schweitzer-Mauduit International, Inc. (SWM) securities class action lawsuit complaint reportedly alleges that defendants violated the Securities and Exchange Act of 1934 by, among other things, misprepresenting the strength of Schweitzer’s competitive position (which allegedly was not adequately protected from foreign competition as to low ignition propensity (“LIP”) paper such that competitors were increasingly developing alternative methods to manufacture banded LIP paper) and concealing problems with Schweitzer’s most important customer (including the customer’s decision to try competitive products).
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