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Financiers Welsh On Bid-Rigging Settlement: Lawyer

Law360 (January 30, 2009, 12:00 AM EST) -- A lawyer for investors who sued Morgan Stanley, Credit Suisse Group and other financial firms, accusing them of rigging initial public offerings during the technology stock boom, has reportedly told a judge that the firms are reneging on a $610 million settlement in the massive class action.

Bloomberg News reported Friday that lawyer Howard Sirota told Judge Shira Scheindlin of the U.S. District Court for the Southern District of New York that the banks are trying to alter the terms of a deal reached in the...
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