Imax Investors Lose Class Bid In Securities Action

Law360, New York (December 22, 2010, 3:59 PM EST) -- A federal judge has again denied a bid for class certification in securities litigation brought by investors of movie pioneer Imax Corp., ruling that lead plaintiff Snow Capital Investment Partners LP is not an adequate representative of the proposed class.

In an order filed Monday in the U.S. District Court for the Southern District of New York, Judge Naomi Reice Buchwald found that Snow Capital, the second lead plaintiff named in the long-running lawsuit, was not a suitable representative of the proposed class because of a...
To view the full article, register now.