Class OK'd In Securities Suit Against Homebuilder

Law360, New York (December 3, 2010, 5:46 PM EST) -- A federal judge has granted class certification to investors suing the parent company of bankrupt homebuilder Levitt and Sons LLC on allegations that the company made false statements to boost its stock price before filing for bankruptcy.

Judge Donald L. Graham of the U.S. District Court for the Southern District of Florida approved a class consisting of investors who either purchased or acquired Levitt Corp. stock between Jan. 31, 2007, and Aug. 14, 2007 — the day before the company announced that a proposed merger with...
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