Shareholder Class Suits Against MEMC Consolidated

Law360, New York (December 16, 2008, 12:00 AM EST) -- A federal judge has agreed to consolidate two securities class actions against MEMC Electronic Materials Inc. alleging the company concealed the financial impact of production disruptions at two of its plants.

Judge Carol Jackson of the U.S. District Court for the Eastern District of Missouri said the shareholder cases against the silicon wafers manufacturer involve common questions of law or fact and are ripe for consolidation.

The suits both claim that Missouri-based MEMC and CEO Nabeel Gareeb failed to timely disclose production problems plaguing the company...
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