We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Delphi's Chapter 11 Hinders Securities Fraud Suits

Law360 (November 21, 2005, 12:00 AM EST) -- Shareholders in securities class action lawsuits against bankrupt auto parts manufacturer Delphi Corp. are seeking an exemption from bankruptcy laws to force the company to hand over documents considered vital to the plaintiffs.

Investors sued Michigan-based Delphi, and several of its former directors, auditors and bankers in early October, alleging the defendants made false statements and intentionally misleading them about company profits. They accused Delphi of boosting profits through phony sales and fraudulent repurchasing deals, as well as manipulating financial reserves by inaccurately coding costs....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.