Mills Corp. Shareholder Fraud Suit Moves Forward

Law360, New York (April 17, 2009, 12:00 AM EDT) -- A federal district court has affirmed the certification of a class of shareholders in a suit against a group of corporations that allegedly participated in years of securities fraud by shopping and entertainment center developer Mills Corp.

District Judge Liam O'Grady of the U.S. District Court for the Eastern District of Virginia on Thursday ruled against nine KanAm corporations, affirming a class comprising all persons who purchased or acquired Mills common and preferred stock between Feb. 27, 2001, and Aug. 10, 2006, and who sustained damages...
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