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By the time Fineman's client, the California Teachers' Retirement System, went to trial against former Homestore CEO Stuart Wolff, class action shareholders had already received about $100 million in settlements with other Homestore defendants, and Wolff had pled guilty to criminal conspiracy charges. Nevertheless, Fineman and CalSTRS wanted to send a message about CEO liability for securities fraud. Last week, a Los Angeles federal jury delivered that message.
March 03, 2011 at 12:00 AM
1 minute read
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