A federal judge has taken the unusual step of choosing a small group of individual investors as presumptive lead plaintiff in a securities class action. Judge Shira Scheindlin acknowledged that standards set in the 1995 Private Securities Litigation Reform Act favored pension funds and other institutional investors in picking lead plaintiffs. But she noted that, although courts were divided, the majority view was that a group of unrelated investors could be lead plaintiff in appropriate circumstances.
July 19, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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