Shareholder Claims Reinstated In Suprema Fraud Case

Law360, New York (February 23, 2006, 12:00 AM EST) -- New Jersey gourmet cheese retailer Suprema Specialties will once again face a shareholder lawsuit stemming from its accounting fraud scandal, after an appeals court reinstated a claim against the company that had previously been thrown out.

The shareholder claims had been thrown out by a district court, but the Third Circuit Court of Appeals ruled that three institutional investors had made a convincing case for a reinstatement of the securities fraud allegations against the company and several of its former executives.

The court also restored several...
To view the full article, register now.