Class Status Granted In Tyco Securities Fraud Suit

Law360, New York (June 13, 2007, 12:00 AM EDT) -- In a week of mixed fortunes for Tyco International Ltd., a judge has granted class status to plaintiffs in a securities case against the conglomerate just a day after dismissing a slew of counts in a separate suit.

The class action, one of many Tyco has faced from shareholders since allegations of a massive accounting fraud scandal surfaced, was brought by investors in company subsidiary TyCom Ltd.

Those investors, who bought TyCom stock from the date of the subsidiary's initial public offering in July 2000 to...
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