Optionable Shareholder Suit Dead In The Water

Law360, New York (October 21, 2008, 12:00 AM EDT) -- A federal judge overseeing shareholder litigation against Optionable Inc. has dismissed the suit after denying a bid by the lead plaintiffs to examine a Deloitte & Touche LLP report they argued was crucial to their case against the energy derivatives brokerage.

Issuing his order Monday, Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York said he saw no merit in the plaintiffs' motion to partially lift the discovery stay, which had, at any rate, been filed late.

The lead plaintiff,...
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