In an order signed Monday, Southern District Judge Harold Baer Jr. ordered two firms serving as co-lead counsel in a securities class action against Gildan Activewear—Labaton Sucharow and Robbins Geller Rudman & Dowd—to “make every effort” to assign at least one minority and one woman to the case. “This proposed class includes thousands of participants, both male and female, arguably from diverse backgrounds, and it is therefore important to all concerned that there is evidence of diversity, in terms of race and gender, in the class counsel I appoint,” the judge wrote in In re Gildan Activewear Inc. Securities Litigation , 08 Civ. 5048. Labaton and Robbins Geller did not return calls for comment.
Judge Baer appointed the plaintiffs firms to lead the case two years ago, and in August they submitted an unopposed motion for a preliminary settlement. (The settlement agreement was made in conjunction with two other proceedings in Canada.) What remains are largely administrative functions and a hearing for preliminary approval of the settlement.
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