Judge Won't Toss Superior Offshore Securities Suit

Law360, New York (January 13, 2009, 12:00 AM EST) -- A federal judge has refused to dismiss a securities class action against officers and directors of Superior Offshore International Inc. and underwriters involved in the bankrupt company's April 2007 initial public offering.

Judge Nancy F. Atlas of the U.S. District Court for the Southern District of Texas ruled Monday the plaintiffs had adequately pled their claims against the individual defendants and underwriters Merrill Lynch Pierce Fenner & Smith Inc. and J.P. Morgan Securities Inc.

Before its collapse, Superior Offshore provided underwater construction and commercial diving services...
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