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Browse: Home / 2012 / February / 10 / Diamond Foods: Is Miss. pension fund a professional plaintiff?

Diamond Foods: Is Miss. pension fund a professional plaintiff?

By Securities Docket on February 10, 2012, 8:32 pm

… MissPERS’s lawyers told U.S. District Judge William Alsup that he can be sure the fund will do a good job on behalf of all Diamond shareholders because MissPERS has plenty of experience as a lead plaintiff.

The New England fund contends that’s exactly why Mississippi shouldn’t get the appointment in the Diamond case. In a Feb. 9 response to the MissPERS bid, Robbins Geller argued that the Private Securities Litigation Reform Act bars investors from serving as lead plaintiff in more than five cases in any three-year period…. By the New England fund’s count, MissPERS has been a lead plaintiff in “as many as 16” cases in the last three years — three times as many as the PSLRA limit.

via Diamond Foods: Is Miss. pension fund a professional plaintiff?–On the Case

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Posted in Class Actions, Industry, Top | Tagged Lead Plaintiff

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