|
 |
| 2001 News and Press Releases |
|
|
HEADLINE ARCHIVED:
IPO Recusal Motion Backfires
By: Heidi Moore
The Daily Deal. December 6, 2001
_________________________________________________________________________
Excerpt: Thirty-eight investment bank defendants suggested that Judge Shira Scheindlin recuse herself from overseeing scores of class-action lawsuits centering on IPO Allocations. Where does it leave you when you try to get a judge tossed off a case and it doesn't work? Nowhere you'd want to be. But that is exactly where 38 investment bank defendants are, after suggesting in late September that Judge Shira Scheindlin recuse herself from overseeing scores of class-action lawsuits centering on initial public offering allocations. Last week, Scheindlin, of the U.S. District Court for the Southern District of New York, rejected the recusal motion made by underwriters named as defendants in about 1,000 lawsuits filed by investors who bought shares in hot IPOs. Now the banks' failed request could come back to haunt them.
|
|
|
