No Class Counsel Fraud In Dynex Securities Suit: Judge

Law360, New York (May 2, 2011, 3:11 PM EDT) -- A New York magistrate judge recommended Friday that a securities fraud class action against Dynex Capital Inc. continue, after the company moved to get the case thrown out because attorneys for the class allegedly made up some witness accounts.

U.S. Magistrate Judge Debra Freeman rejected the company's motion to dismiss the case as a sanction against class counsel for fraud — a move Dynex made after many of the plaintiffs' confidential witnesses recanted their testimony once their identities were revealed to the court at the end...
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