Motorola, Execs Still On Hook In Securities Fraud Suit

Law360, New York (September 26, 2008, 12:00 AM EDT) -- Motorola Inc. and several current and former officers are still on the hook in a purported securities fraud class action over financial setbacks caused by delays in the development of the company's "third generation" 3G cellular phones.

Judge James B. Moran of the U.S. District Court for the Northern District of Illinois denied a significant portion of the defendants' motion to dismiss the case on Tuesday. He ruled that Motorola and certain defendants, including former CEO Edward Zander, may have made material misrepresentations and omissions about...
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