Government Defends Stay In Collins & Aikman Case

Law360, New York (July 25, 2007, 12:00 AM EDT) -- The U.S. federal government on Tuesday defended its bid to stop discovery in a securities suit against bankrupt auto furnishings company Collins & Aikman, saying that the stay was needed for the government to pursue a related criminal proceeding.

The company and several of its officers have been targeted by the U.S. Securities and Exchange Commission in a civil action, and by the government in a criminal action. They had argued that the concurrent proceedings served no purpose but to attract negative publicity.

“In fact,” responded...
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