Shareholders To Appeal Kmart Suit To 2nd Circ.

Law360, New York (August 21, 2009, 2:50 PM EDT) -- A group of former Kmart Holding Corp. shareholders is appealing a district judge's decision to throw out a putative class action alleging executives at the discount retailer — now part of Sears Holdings Corp. — drove down stock prices by concealing the true value of the company’s real estate assets.

Lead plaintiffs the Plumbers and Pipefitters National Pension Fund and the Mississippi Public Employees' Retirement System filed notice of their intent to appeal the dismissal to the U.S. Court of Appeals for the Second Circuit on...
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