2nd Circ. Wrestles With Citi, S&P Stock Drop Suits

Law360, New York (September 28, 2010, 7:15 PM EDT) -- An appeals court is weighing whether businesses in turmoil must halt employee purchases of company stock as it debates reviving Employee Retirement Income Security Act stock drop cases against Citigroup Inc. and The McGraw-Hill Cos. Inc.

Lawyers for plaintiffs in proposed class actions against the companies brought under ERISA sought to convince a panel in the U.S. Court of Appeals for the Second Circuit on Tuesday that their cases were thrown out prematurely under too-harshly applied standards.

McGraw Hill-owned financial ratings subsidiary Standard & Poor's Financial...
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