Law360, New York (October 07, 2011, 8:18 PM ET) -- The U.S. Judicial Panel on Multidistrict Litigation on Thursday consolidated in New York five class actions over Gerova Financial Group Ltd.'s deal for hedge fund Stillwater Capital Partners Inc.'s assets that investors say bilked them out of $100 million.
The panel approved the lead plaintiffs’ requests for consolidation in the Southern District of New York, saying the suits involved a “limited fund,” and that centralizing the cases would prevent the investors from being further disadvantaged by burgeoning litigation expenses.
Although some of the lead plaintiffs had expressed...
JPML Joins Investor Suits Over Gerova's Stillwater Buy
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