Law360, New York (March 16, 2011, 2:33 PM ET) -- A class of shareholders told the Second Circuit on Wednesday that the former CEO of Loral Space & Communications Ltd. knowingly hid the troubled company's bankruptcy preparations from the public to save his own neck.
"It's not as if the electricity was going to be turned off — he pulled the plug," Joseph H. Weiss of Weiss & Lurie, who represents the investors, told a three-judge panel of the U.S. Court of Appeals for the Second Circuit.
Former Loral CEO Bernard L. Schwartz allegedly made a...
Loral CEO Hid Ch. 11 Prep, Investors Tell 2nd Circ.
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