Class Cert. Denied In BankAtlantic ERISA Suit

Law360, New York (July 29, 2009, 7:01 PM EDT) -- A former employee of BankAtlantic Bancorp Inc. has lost her bid for class certification in a suit accusing the financial services holding company of failing to inform retirement plan participants of the true value of the company's stock.

In a ruling issued Tuesday, Judge Ursula Ungaro of the U.S. District Court for the Southern District of Florida said the proposed class definition was overly broad and unworkable, in part because it included people who could not have been harmed from the company's 2007 stock drop....
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