In the latest volley in thebattle between New York City and State to control the $3 billion McKessonHBOC Inc. securities fraud litigation, the City’s pension system has attemptedto disqualify the State pension system’s major partner from becoming leadplaintiff.
The New York City pensionsystem has asked a federal judge in San Jose to debar the Florida pensionsystem from aligning itself with the New York State pension system in seekingto become lead plaintiff. The City claims that Florida is disqualifiedbecause it has been lead counsel in securities class actions more thanthe five times within three years that is allowed by federal statute.
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