Judge Jeffrey White of the US District Court in California’s Northern District has ruled his decision in the long-running Class Action alleging insider trading over the sale of Intelsat shares by certain shareholders including the then chairman Dave McGlade.

The judge, on April 26th, dismissed various last-minute motions from the Lead Plaintiff and entered judgement in favour of the Defendants and against the Lead Plaintiff.

In other words, the Class Action and its associated allegations have failed.

While this was an entirely civil case, there has been no sign of any criminal allegations against the cited shareholders in the civil case or any sign – to date – of an investigation by the US Securities & Exchange Commission.

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Tags: Class Action, Dave McGlade, Intelsat