Istar Can't Nix Shareholder Class Suit Over Offering

Law360, New York (March 29, 2010, 4:31 PM EDT) -- A putative shareholder class action accusing real estate financing company iStar Financial Inc. and its principals and underwriters of withholding information during a public offering will move forward following a federal judge’s decision to deny most of the defendants’ motion to dismiss.

Judge Richard J. Sullivan of the U.S. District Court for the Southern District of New York on Friday denied most of the company and its principals’ motion to dismiss the consolidated class action, which alleges that they violated federal securities laws by failing to...
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