Top Tankers Moves To Toss Shareholder Class Action

Law360, New York (October 18, 2007, 12:00 AM EDT) -- Grecian oil shipping company Top Tankers Inc. asked the court on Wednesday to dismiss a class action lawsuit brought by shareholders over its alleged accounting fraud, arguing that the plaintiffs in the case could not offer a single document, witness or source that suggest the company acted fraudulently.

Top Tankers said that after its motion to dismiss the first consolidated complaint in the case, plaintiffs were “forced to take the unusual step of abandoning a large portion of their case, including their major theory of fraud,”...
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