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The McGraw-Hill Companies, Inc. Summary: After being transferred plaintiffs filed a new Consolidated Complaint on December 3, 2008.
Plaintiffs filed the First Consolidated Complaint on May 7, 2008. The complaint adds the Company as well as the current President and CEO to the defendants list. On June 18 the judge transferred the case from the District of Columbia to the Southern District of New York.
According to a press release dated February 14, 2008, in an order handed down on Monday, Judge Colleen Kotelly of the U.S. District Court for the District of Columbia appointed the Boca Raton Firefighters and Police Pension Fund as lead plaintiff in the securities class action suit. She named the fund's attorneys, from Coughlin Stoia, lead counsel. In naming lead plaintiff and counsel, Judge Kotelly granted the Boca Raton fund leave to amend the complaint in the case, setting an April 16 deadline for any changes
The Complaint charges McGraw-Hill’s Chief Financial Officer and Executive Vice President of with violations of federal securities laws. Plaintiff claims that defendant's misleading statements or omissions concerning McGraw-Hill's business and operations caused the Company's stock price to become artificially inflated, inflicting damages on investors. Specifically, the Complaint alleges the defendant misrepresented or failed to fully disclose that McGraw-Hill's subsidiary Standard & Poor's assigned excessively high ratings to bonds backed by risky subprime mortgages -- including bonds packaged as collateralized debt obligations -- which was materially misleading to investors concerning the quality and relative risk of these investments.
INDUSTRY CLASSIFICATION:
SIC Code: 2731
Sector: Services
Industry: Printing & Publishing
| COMPANY/ISSUER NAME: | The McGraw-Hill Companies, Inc. |
| COMPANY/ISSUER TICKER: | MHP |
| COMPANY WEBSITE: | http://www.mcgraw-hill.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| Claude A. Reese, et al. v. Bahash, et al. | |||||||||||||||||
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| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Complaint For Breach of Fiduciary Duty - Jury Trial Demanded | |||
| Type: Complaint | Date on the document: 08/28/2007 | ||
| U.S. District Court Civil Docket | |||
| Type: Docket | Date on the document: 11/12/2007 | ||
| Order | |||
| Type: Order Appointing LP/LC | Date on the document: 02/11/2008 | ||
| REFERENCE COMPLAINT | |||||||||||||||||
| Reese, et al v. Bahash, et al | |||||||||||||||||
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| DOCUMENTS FOR THE REFERENCE COMPLAINT | |||
| Consolidated Class Action Complaint For Securities Fraud | |||
| Type: Complaint | Date on the document: 05/07/2008 | ||
| U.S. District Court Civil Docket | |||
| Type: Docket | Date on the document: 08/06/2008 | ||
| Lead Plaintiff's Amended Consolidated Class Action Complaint For Securities Fraud | |||
| Type: Complaint | Date on the document: 12/03/2008 | ||
| U.S. District Court Civil Docket | |||
| Type: Docket | Date on the document: 12/3/2008 | ||
| OTHER DOCUMENTS | |||
| Case Name and/or Number: | |||
| Type: | Date on the document: | ||
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