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Ruling Could Bring An End To IPO Antitrust Case

Law360 (April 20, 2006, 12:00 AM EDT) -- A $1.2 billion class action antitrust suit filed against numerous investment banks may finally be coming to an end, after a judge’s ruling on class certification and presumed injury dealt a serious blow to plaintiffs.

Judge Lawrence M. McKenna of the U.S. District Court for the Southern District of New York denied the issuer plaintiffs’ motion to be recognized as a class. The judge also ruled that plaintiffs presumed injury to the proposed class without having substantial evidence.

The case, filed in 1998 by issuers and...
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