Investors Prevail In 7-Year Fraud Suit V. Household

Law360, New York (May 8, 2009, 12:00 AM EDT) -- After a nearly seven-year battle, a jury has handed a victory to shareholders in a securities fraud action against financial firm Household International Inc. and three former executives.

The jury handed down its verdict Thursday in the U.S. District Court for the Northern District of Illinois, finding that the company and three former executives, including former Household CEO William Aldinger, recklessly made misleading public statements that deceived shareholders.

The class action was first filed in August 2002 on behalf of purchasers of Household stock from October...
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