Harman Won’t Comment on Appeals Court Reversal of Class-Action Dismissal

Harman International declined comment on a federal appeals court opinion reversing a lower court’s dismissal of a class-action shareholder complaint that alleged senior company management “knowingly and recklessly propped up” the company’s stock price by overinflating its personal navigational devices business to make the company a more attractive acquisition target (see 1506230039). The U.S. Appeals Court for the D.C. Circuit remanded the case to the U.S. District Court in D.C. for “further proceedings.” Harman “as a matter of practice” doesn’t comment on pending litigation, company spokesman Darrin Shewchuk emailed us Tuesday.