Court Grants Class Cert. in Monster Worldwide Backdating Case

Judge Rakoff of the SDNY has granted a motion for class certification in a shareholder lawsuit against Monster Worldwide (MNST.O) alleging securities fraud.  According to the Washington Post, the suit filed by two pension funds — the Middlesex County Retirement System in Massachusetts and the pension fund of the Steamship Trade Association-International Longshoreman’s Association–alleged Monster backdated stock options that were handed out to employees.