Conseco Common Stock Investors Win Class Status

Law360, New York (March 20, 2009, 12:00 AM EDT) -- Former officers of Conseco Inc. accused of securities fraud got a jolt Friday as a federal judge granted class certification in the case, opening the door to plaintiffs potentially numbering in the thousands, though the class is limited to purchasers of Conseco’s common stock.

Judge David F. Hamilton of the U.S. District Court for the Southern District of Indiana granted class status to two plaintiffs alleging the four former officers concealed Conseco’s dire condition from investors while the financial services giant was spiraling toward bankruptcy....
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