Tuesday, November 21, 2006
Yet Another Press Release Permutation
Today, Bernstein Litowitz Berger & Grossmann LLP issued a press release in the SFBC International, Inc. (k/n/a/ Pharmanet Development Group, Inc. (NASDAQ: PDGI)) securities litigation that adds yet another (welcome) wrinkle to our Securities Litigation Universe of [Press] Release Permutations (a/k/a SLURP), first discussed here.
The firm announced that, on behalf of their client (and lead plaintiff), the Arkansas Teacher Retirement System, they had filed a consolidated class action complaint and provided members of the putative class with a direct link to the document.
If more firms would do something similar (issue a release and post the relevant documents on their website) when major litigation milestones are reached, class members would be far better informed of the status of any particular securities class actions.
The SFBC litigation is pending in the United States District Court for the District of New Jersey before Judge Stanley R. Chesler.
Daily Trivia: Judge Chesler is a graduate of Harpur College. Harpur is the "oldest and largest of the five academic units comprising the State University of New York at Binghamton." The college was founded in 1946 as Triple Cities College of Syracuse University to "provide educational opportunities for returning veterans of World War II." Harpur transitioned quickly into an independent entity, finally becoming a university in 1965.