Glaxo Investors Vie For Lead Plaintiff Role

Law360, New York (September 10, 2007, 12:00 AM EDT) -- Three parties vying to serve as lead plaintiff in a securities action against pharmaceutical giant GlaxoSmithKline PLC exchanged volleys Friday, each arguing it is best-suited to represent the proposed class of investors.

Each of the three plaintiffs responded to prior arguments in favor of its own appointment as lead plaintiff. The three plaintiffs are: a group of U.K. pension plans led by the Avon Pension Fund; a group of German investors led by the Institutional Investor Group; and the City of Tallahassee Pension Plan.

Each plaintiff...
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