Federal Court Dismisses Pier 1 Shareholder Suit… Again

A Dallas federal judge this week dismissed a shareholder class action that alleged Fort Worth-based Pier 1 Imports and two former executives committed securities fraud when they misrepresented the company’s financial health to investors.

The ruling is a significant victory for a team of Bracewell lawyers that have been defending Pier 1 in this case, one that has now survived two different rounds of motions to dismiss from two different judges. The opinion is also notable because it is one of the first major rulings by U.S. District Judge Karen Gren Scholer since she joined the federal bench in the Northern District of Texas this spring.