Danica Named Lead Plaintiff In Transocean Suit

Law360, New York (January 5, 2011, 5:53 PM EST) -- Danish pension fund Danica Pension A/S has been appointed lead plaintiff in a securities class action accusing Transocean Ltd., operator of the Deepwater Horizon oil rig, of misleading investors about its safety protocols.

In an order Monday, the U.S. District Court for the Southern District of New York also approved Barroway Topaz Kessler Meltzer & Check LLP as lead counsel and Bernstein Litowitz Berger & Grossmann LLP as liaison counsel.

Judge Naomi Reice Buchwald found that Danica's roughly $3.7 million losses trumped the $3.4 million lost...
To view the full article, register now.