Plaintiff Denied Access To New Century Docs

Law360, New York (December 10, 2007, 12:00 AM EST) -- A bankruptcy judge has refused to grant the lead plaintiff in a consolidated securities class action suit against New Century Financial Corp. access to documents relating to the bankrupt subprime lender’s alleged accounting fraud.

On Friday, Judge Kevin J. Carey of the U.S. Bankruptcy Court of the District of Delaware denied without prejudice a motion by the New York State Teachers’ Retirement System for a modification of the automatic stay in New Century’s Chapter 11 case, which will allow the lead plaintiff to refile the motion...
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