Societe Generale has called in US giant Skadden Arps Slate Meagher & Flom to battle a class action law suit brought by shareholders following recent heavy losses sustained by the French lender. The class action has been filed against SocGen, France's second-largest bank, by a shareholder in the US as a result of losses sustained following its exposure to sub-prime loans and alleged fraudulent dealing by employee Jerome Kerviel.
March 26, 2008 at 12:29 PM
1 minute read
The original version of this story was published on Legalweek
Societe Generale has called in US giant Skadden Arps Slate Meagher & Flom to battle a class action law suit brought by shareholders following recent heavy losses sustained by the French lender.
The class action has been filed against SocGen, France’s second-largest bank, by a shareholder in the US as a result of losses sustained following its exposure to sub-prime loans and alleged fraudulent dealing by employee Jerome Kerviel.
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