Securities Class Action V. Midway Execs Thrown Out

Law360, New York (October 23, 2009, 7:52 PM EDT) -- Five Midway Games Inc. executives are off the hook in a suit accusing them of selling off millions of dollars of artificially inflated stock in 2005 to the detriment of a putative class of shareholders.

Judge David Coar of the U.S. District Court for the Northern District of Illinois on Oct. 19 dismissed the consolidated class action against executives Steven Allison, James Boyle, Miguel Iribarren, Thomas Powell and David Zucker.

The lead plaintiffs purported to represent a class of all purchasers of Midway's common stock between...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.