Investors Push 2nd Circ. To Revive Celestica Fraud Suit

Law360, New York (December 20, 2011, 7:24 PM EST) -- Evidence shows that Celestica Inc. executives knew about major inventory problems well before they disclosed it to the markets, investors argued Tuesday in a bid to have the Second Circuit reopen a putative class action against the electronics maker.

Institutional investors want the Second Circuit to reverse the dismissal of their securities fraud suit, in which they claim that Celestica lied about inventory problems after a restructuring that focused operations at a Monterrey, Mexico, facility. A former arm of IBM Corp., Celestica makes electronics for original...
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