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In a big win for class action plaintiffs' lawyers, a federal judge ruled that the required published notice of a shareholder suit need not contain a "wastefully extensive" description of the exact dates, content and individualized impact of every alleged misrepresentation and omission, but instead need only give "a summary of the legal and factual basis of the claims." Judge J. Curtis Joyner rejected a defense motion alleging that Milberg Weiss Bershad & Schulman's notice did not meet PSLRA requirements.
January 31, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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