Fremont Stock-Drop Class Action Gets Go-Ahead

Law360, New York (April 16, 2010, 4:51 PM EDT) -- A judge has certified a class of retirement and stock-ownership plan participants at Fremont General Corp. in a stock-drop suit against the now-bankrupt subprime lender.

Jacqueline H. Nguyen of the U.S. District Court for the Central District of California approved the plaintiffs' motion for class certification Thursday, overruling Fremont's objections, including that the proposed class was too broad.

The size of the class — current or former participants in Fremont's 401(k) and employee stock ownership plans from 2005 to 2008 — is estimated to be about...
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