ProQuest Loses Bid To Toss Class Action

Law360, New York (November 12, 2007, 12:00 AM EST) -- A Michigan federal court judge has refused to toss a securities class action against ProQuest Co. over allegedly fraudulent accounting practices that led to an overstatement of company revenue.

Judge Avern Cohn of the Eastern District of Michigan last week denied ProQuest and its executives' motions to dismiss the case, ruling that the company's shareholders had provided sufficient evidence to let the case proceed. The suit, which consolidated four shareholder cases, accused the publishing company of failing to have adequate accounting controls which led to earnings...
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