Eaton Corp. Fibbed About Effort To Sway Judge, Investors Say

Law360, New York (August 6, 2012, 6:12 PM EDT) -- A Florida union retirement fund on Thursday hit Eaton Corp. with a putative securities fraud class action claiming the Ohio-based builder of power systems duped investors when it denied unduly trying to influence a Mississippi judge presiding over a now-dismissed trade secrets case.

On May 31, when Eaton was forced to admit it had in fact attempted to influence Judge Bobby DeLaughter — who recently was released from prison in an unrelated corruption case — the company's shares plunged by 7 percent, according to the Florida...
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