BankAtlantic Shareholders Bid For Class Certification

Law360, New York (September 23, 2009, 6:10 PM EDT) -- Plaintiffs have moved for class certification in a securities lawsuit accusing BankAtlantic Bancorp Inc. of issuing misleading financial statements and failing to disclose millions of dollars worth of bad loans.

In a motion for certification filed Sept. 22 in the U.S. District Court for the Southern District of Florida, the plaintiffs in the consolidated class action argues that the case is “perfect for treatment as a class action.”

State-Boston Retirement System and Erie County Employment Retirement System will serve as class representatives, the motion says....
To view the full article, register now.