Judge Refuses To Revive Britannia IPO Action

Law360, New York (February 10, 2010, 12:28 PM EST) -- A federal judge has declined to breathe new life into a proposed class action that took issue with allegedly misleading statements surrounding an initial public offering of common stock in dry bulk shipping company Britannia Bulk Holdings Inc.

Putative class member Robert S. Wildes had filed a motion seeking to reopen the case with himself as lead plaintiff in order to pursue untested claims under the Securities Exchange Act of 1934, but Judge Denise Cote of the U.S. District Court for the Southern District of New...
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