Panel Consolidates Sterling Class Actions

Law360, New York (October 29, 2007, 12:00 AM EDT) -- Several lawsuits accusing Sterling Financial Corp. and former officers of lying to investors in order to inflate the company's stock price in violation of U.S. securities laws have been consolidated in the U.S. District Court for the Eastern District of Pennsylvania.

The Judicial Panel on Multidistrict Litigation transferred four such actions into the U.S. District Court for the Eastern District of Pennsylvania on Friday and consolidated them with three actions that were already filed there.

The putative class, according one suit, is made up of Sterling...
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