Detroit Fund Named Lead In Horizon Securities Case

Law360, New York (June 18, 2009, 12:00 AM EDT) -- The Police and Fire Retirement System of the City of Detroit has been named lead plaintiff in a proposed class action securities suit against Horizon Lines Inc. over its alleged price-fixing, beating out an earlier bid from another group of investors.

Judge Harvey Bartle gave Detroit P&F the nod in a ruling issued Thursday in the U.S. District Court for the District of Delaware.

The $5 billion investment fund moved for lead plaintiff status in opposition to a bid from Michigan Institutional Fund Group, made up...
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