More Banco Popular Shareholders Can't Join Suit: Judge

Law360, New York (June 28, 2011, 9:59 PM EDT) -- A Puerto Rico federal judge on Tuesday denied a class of Popular Inc. shareholders suing the bank leave to intervene in another suit that recently reached a $37.5 million settlement.

U.S. District Judge Gustavo A. Gelpi on June 20 preliminarily approved the settlement of a suit brought by shareholder Russell Hoff, allowing purported class members to be notified of the deal. Plaintiffs in Ceci Montilla-Rojo et al. v. Popular Inc. et al., who filed their class action in January, moved June 19 to intervene in Hoff...
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