Fremont Investors Ask 9th Circ. To Revive Securities Case

Law360, Los Angeles (November 10, 2011, 4:22 PM EST) -- An attorney for the New York State Teachers’ Retirement System urged the Ninth Circuit on Thursday to revive a putative securities class action against former executives at bankrupt subprime lender Fremont General Corp., saying the case shouldn’t have been dismissed for failure to adequately plead violations.

“In direct contrast to the defendants’ statements, Fremont was one of the country’s most deliberately reckless subprime lenders,” said the plaintiffs’ attorney Salvatore Graziano on Thursday. “A de novo review here will reveal that this is quite an easy case,...
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