A federal judge in Manhattan has given the go-ahead to proceed for one of the largest securities class action suits filed by investors in the wake of the credit crisis.
In a 398-page opinion made public Friday, Southern District Judge Robert Sweet denied motions to dismiss the action against Bear Stearns, its outside auditor Deloitte & Touche, and seven individual defendants. However, Judge Sweet dismissed a related derivative suit and ERISA suit.
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