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| 2001 News and Press Releases |
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HEADLINE ARCHIVED:
Judge Stays Put On 1,000 Investor Cases
By: Colleen Marie Colleen O'Connor
The IPO Reporter. Monday, December 3, 2001
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Excerpt: What the IPO market is lacking in deals this year, it's made up for in shareholder class-action lawsuits. On the heels of two additional suits filed last Thursday comes word that the federal judge in charge of more than 1,000 investor suits will not be stepping down from the case. U.S. District Judge Shira Scheindlin was asked by several investment banks last October to recuse herself from the case involving 42 firms and 263 companies. The defendants argued that since the Judge and members of her family bought shares in several of the IPOs named in the suit, she was inclined to partiality to the plaintiffs, given they are among the thousands of investors allegedly damaged by the hot IPO market.
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