Class Certified In Sadia Hedging Practices Suit

Law360, New York (July 21, 2010, 5:34 PM EDT) -- A judge has certified an investor class action accusing Brazilian food company Sadia SA of making false and misleading statements and omissions regarding its currency hedging practices.

Judge Shira A. Scheindlin of the U.S. District Court for the Southern District of New York said Tuesday that the plaintiffs had met the requirements for the case to proceed as a class action.

The judge dedicated much of the order, however, to saying that the plaintiffs did not have to prove that a misstatement or omission had an...
To view the full article, register now.