$37.5M Deal Pitched In Scottish Re Litigation

Law360, New York (September 4, 2008, 12:00 AM EDT) -- The lead plaintiff in a securities class action against a slew of defendants including Scottish Re Group Ltd., Ernst & Young LLP and Lehman Brothers Inc. has asked the court overseeing the case to approve a $37.5 million settlement that could bring the consolidated litigation to a close.

The State Teachers Retirement System of Ohio filed its “unopposed” motion on Wednesday, asking the U.S. District Court for the Southern District of New York for preliminary approval of the deal, class certification for settlement purposes and approval...
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