Add yet another lead plaintiff appointment to the Public Employees’ Retirement System of Mississippi’s workload. Yesterday, Judge Barbara Jones of the U.S. District Court for the Southern District of New York appointed the fund co-lead plaintiff in the Satyam Computer Services Ltd. The case is at least the eleventh in which Mississippi PERS is now the lead or co-lead plaintiff, Bloomberg reports, and the third it has been appointed to lead this month alone.
Bernstein Litowitz Berger & Grossmann LLP represents Mississippi PERS in Satyam and other cases. “I view them as a terrific guardian of integrity in the capital markets,” Sean Coffey, a Bernstein Litowitz partner, said of Mississippi PERS. “They are folks who talk the talk and walk the walk, and they’re very active.” Bloomberg reports that of six completed cases for which the pension system served as a lead plaintiff, four of the companies settled and two won dismissals. The rest haven’t been resolved.