Class Cert. Granted In Akeena Securities Suit

Law360, New York (March 11, 2011, 12:50 PM EST) -- A California federal judge on Thursday granted class certification to investors alleging Akeena Solar Inc.'s founder helped inflate the company's stock price in order to fund a divorce settlement, among other claims.

Chief Judge James Ware of the U.S. District Court for the Northern District of California also allowed one of the named plaintiffs, Sharon Hodges, to withdraw from the case. The two other named plaintiffs, Joel Gentleman and David Gordon, will continue to prosecute the case.

Although Akeena attempted to shorten the class period, the...
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