Judge Tosses CP Ships Shareholders' Class Action

Law360, New York (June 27, 2007, 12:00 AM EDT) -- A district court judge has chucked a class action filed by CP Ships Ltd. shareholders claiming that the company artificially inflated its revenues, allowing the plaintiffs to take the case to an appeals court.

The plaintiffs chose not to submit a consolidated amended complaint after the judge granted CP Ships' motion to dismiss in April. They will appeal that decision in the Eleventh Circuit.

“It appearing that plaintiffs have failed to amend the consolidated amended class action complaint within the time specified by this court's April...
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