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Lerach Wins Fight Over Lead Status In XM Radio Case

Law360 (August 3, 2006, 12:00 AM EDT) -- After consolidating the various securities class actions facing XM Satellite Radio Holdings Inc., a Washington, D.C. district court has stepped into the fray and appointed the Union Pension Group as lead plaintiff in the combined lawsuit.

“Because the court finds that the institutional investors—Boca Raton Firefighters and Police Pension Fund, and Plumbers Local 267 Pension Fund—best satisfy the requirements and purpose of the Private Securities Litigation Reform Act, it appoints them as lead plaintiffs in this action,” the memorandum opinion stated.

In its decision, the court...
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