Investors' E-Trade Deceit Suit Moves Forward After 5 Years

Law360, New York (May 9, 2013, 6:07 PM EDT) -- A New York federal judge Wednesday lifted an almost five-year stay of a securities suit against E-Trade Financial Corp. that alleges the company misrepresented its financial condition during the mortgage meltdown in 2007.

U.S. District Judge J. Paul Oetken in a brief order restored the case to the court’s active docket following E-Trade and its insurers' $79 million settlement of a related class action. The so-called Freudenberg case, a consolidated class action, was initially launched against the online brokerage and its executives in October 2007, after...
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