Class Status Bid Denied In Imax Securities Action

Law360, New York (March 13, 2009, 12:00 AM EDT) -- A federal judge has denied a bid for class certification by a group of Imax Corp. investors in securities litigation against the movie pioneer so that she can consider a bid for lead plaintiff status by a rival shareholder group.

Judge Naomi Reice Buchwald of the U.S. District Court for the Southern District of New York refused Westchester Capital Management Inc.'s motion for certification without prejudice in an order Friday, pending the outcome of Snow Capital Investment Partners LP's motion for reconsideration of a two-year old...
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