Bankrupt Constar Off Hook In Securities Class Action

Law360, New York (November 6, 2009, 4:50 PM EST) -- A judge has tossed all claims against Constar International Inc., citing its filing for Chapter 11 protection, in a consolidated securities fraud class action alleging the plastic container maker and several financial firms made misleading statements to investors about Constar's 2002 initial public offering.

Judge Edmund V. Ludwig dismissed all claims against Constar with prejudice in the U.S. District Court for the Eastern District of Pennsylvania on Wednesday.

The plaintiffs filed suit in September 2003 asserting securities violations against Constar, parent company Crown Holdings Inc. and...
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