Judge Hits WRT Energy Shareholders With Sanctions

Law360 (October 1, 2007, 12:00 AM EDT) -- Citing “lack of frankness in discovery,” a district court judge has slapped the plaintiffs in the securities class action against the underwriters of WRT Energy Inc. with sanctions, ordering them to pay some of the defendants' costs and attorneys' fees.

In an order issued Friday, Judge James C. Francis IV of the U.S. District Court for the Southern District of New York granted a motion filed by CIBC Oppenheimer Corp. and Schroder & Co. Inc. asking for “the imposition of sanctions against the plaintiffs for failure...
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