For the second time in less than a week, class action law firm Labaton Sucharow has been reprimanded for overreaching in its attempts to lead a major securities fraud action.
Southern District of New York Judge John E. Sprizzo on Friday denied the firm’s motion to add claims to the massive four-year-old class action, In re American International Group, finding that the proposed addition of “new and unrelated” claims would create an uncertifiable class while placing substantial additional burdens on defendant American International Group.
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