Judge Certifies Class In Sears Securities Case

Law360, New York (July 18, 2007, 12:00 AM EDT) -- A judge on Tuesday certified a class of plaintiffs that is accusing Sears Roebuck & Co. of making false and misleading statements that artificially deflated the value of its stock before it was bought by Kmart.

Judge Robert W. Gettleman of the U.S. District Court for the Northern District of Illinois ruled that the plaintiffs had satisfied most of the class requirements. He did exclude some short sellers, however, except the ones who remained in a short position when the alleged fraud was revealed.

“Anyone who...
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