Pension Funds Can Join Lehman Securities MDL: Judge

Law360, New York (April 14, 2011, 4:16 PM EDT) -- A New York federal judge granted two pension funds in Iowa and Mississippi on Wednesday limited intervention in a multidistrict litigation over now-bankrupt Lehman Brothers Holdings Inc.’s securities offerings, ruling that the statute of repose cannot be tolled.

Judge Lewis A. Kaplan of the U.S. District Court for the Southern District of New York broke from a majority of court rulings and concluded that the statute of repose, which gives plaintiffs three years from the date of a securities offering to bring a claim under Section...
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