Banks Get Time To Negotiate Deal In IPO Litigation

Law360, New York (October 28, 2008, 12:00 AM EDT) -- A district court judge has given Morgan Stanley, Credit Suisse Group and about a dozen other financial firms more time to prepare settlement papers that would resolve a sprawling class action accusing them of manipulating initial public offerings.

Judge Shira Scheindlin of the U.S. District Court in Southern New York on Monday granted the defendants’ request to push the deadline by which they must reply to the plaintiffs’ second consolidated amended complaints to Jan. 30. The response, related to the six focus cases chosen to represent...
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