Rosen Law Hit With Fee Sanction for ‘Groundless’ Investor Suit

The Rosen Law Firm PA, known for representing investors in securities litigation, got hit with a sanctions order for filing a “groundless” initial complaint against Harbor Diversified Inc., the parent of a Wisconsin regional airline.

The original complaint was devoid of allegations regarding the executives’ level of intent or recklessness for securities fraud claims, Judge William C. Griesbach said. “It follows that, whether out of ignorance of the law or simple laziness, the original complaint reflects a failure to conduct a reasonable inquiry prior to filing.”

In arguing against sanctions, The Rosen Law Firm invoked allegations from ...