Class Certified In Landmark Tellabs Securities Suit

Law360, New York (February 24, 2009, 12:00 AM EST) -- A judge has granted class certification in the securities class action filed against telecommunications supplier Tellabs Inc. that prompted the U.S. Supreme Court to heighten federal pleading standards for securities fraud lawsuits.

Reigniting the precedent-setting securities suit filed by Makor Issues & Rights Ltd. in the U.S. District Court for the Northern District of Illinois, on Monday Judge Amy St. Eve certified a class of investors alleging that Tellabs deceived investors into purchasing company stock at artificially inflated prices.

Investors who purchased common stock for the...
To view the full article, register now.