U.S. District Judge Robert Sweet of the SDNY has appointed the State of Michigan as lead plaintiff in the securities class action lawsuit against the Bear Stearns Companies and certain of its officers and directors. The case alleges that the defendants misled pension funds and other investors by failing to appropriately mark down its huge portfolio of securities containing subprime mortgage-backed securities. Michigan Attorney General Mike Cox and Treasurer Robert J. Kleine announced the state’s appointment as lead plaintiff today.
A May 2008 NY Sun article on the case stated that the State of Michigan was represented by Labaton Sucharow LLP of Manhattan and Berman DeValerio Tabacco Burt & Pucillo, which is based in San Francisco and Boston.
