Shareholders Take Shot At IStar

Law360, New York (April 25, 2008, 12:00 AM EDT) -- An iStar Financial Inc. shareholder has filed a proposed class action against the real estate financing company, alleging that neither iStar nor its officers and directors were forthcoming with the public during the company's second public offering.

The suit, which Dennis Christenson filed Thursday in the U.S. District Court for the Southern District of New York, alleges that the company, Chief Executive Officer and board Chairman Jay Sugarman, President Jay S. Nydick and Chief Financial Officer Catherine D. Rice violated securities laws by not telling investors...
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