Exide Investors Get Another Class Cert. In Enviro Suit
Law360, New York (December 21, 2015, 3:33 PM EST) -- A California federal judge has certified an additional class of investors accusing bankrupt automotive and industrial battery maker Exide Technologies’ executives of covering up the company’s failure to comply with environmental regulations, finding claims concerning the company’s control over the executives are common among class members.
U.S. District Judge Stephen V. Wilson on Thursday certified a class of noteholders pursuing Securities Exchange Act of 1934 violations against Exide, after certifying a liability-only stock class in July, agreeing that the claims present a unified question of the “power and control” exerted by the company over executives that allegedly made numerous misleading statements in...
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