Investors Win Class Cert. In NYSE Specialists Case

Law360, New York (June 15, 2009, 12:00 AM EDT) -- A federal judge overseeing long-running consolidated securities litigation against seven specialist firms that handled trades on the New York Stock Exchange between 1999 and 2003 has granted the California Public Employees Retirement Systems' bid for class certification.

The class certification ruling, unsealed June 5, was signed by Judge Robert Sweet of the U.S. District Court for the Southern District of New York in March. The defendants, meanwhile, have filed a petition with the U.S. Court of Appeals for the Second Circuit challenging the decision to certify...
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