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| 2001 News and Press Releases |
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HEADLINE ARCHIVED:
In re: Initial Public Offering Securities Litigation Judge Scheindlin
New York Law Journal. November 16, 2001
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Excerpt: Over the last eleven months, plaintiffs have brought over 860 securities class actions against more than 200 companies and approximately 40 investment banks ("underwriters") alleging, in the broadest terms, that these defendants violated federal law by manipulating the prices of stocks that the companies had issued to the public. Because the hundreds of complaints share some common issues, Chief Judge Michael B. Mukasey ordered them consolidated for pretrial purposes and assigned the cases to this Court on August 9, 2001. See Order, In re Initial Public Offering Sec. Litig., 21 MC 92 (Aug. 9, 2001). Many, but not all, of the underwriters have moved to recuse this Court for various reasons under 28 U.S.C. @455 (the "moving defendants"). In support of their motion, the moving defendants have proffered the affidavits and declarations of Professors Geoffrey Hazard and Charles Wolfram as experts in judicial ethics.
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