Former shareholders of Tyco International, whose former chief executive and chief financial officer were convicted of fraud, have been certified as a class to sue the company and its accounting firm, PricewaterhouseCoopers. Judge Paul Barbadoro made the ruling Monday in securities fraud cases consolidated in New Hampshire. The lawsuit alleges that former executives and board members, including Dennis Kozlowski and Mark Swartz, operated the company as a criminal enterprise to enrich themselves.
June 14, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.com
Former shareholders of Tyco International Ltd., whose former chief executive and chief financial officer were convicted of fraud, have been certified as a class to sue the company and its accounting firm, PricewaterhouseCoopers.
Judge Paul Barbadoro made the ruling Monday in securities fraud cases consolidated in U.S. District Court in New Hampshire. However, he removed one lead plaintiff, Voyageur Asset Management, saying it could not prove it was harmed.
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