Pension funds to sue Canadian electronics firm for securities fraud
09 January 2012
Electronics company Celestica Inc. has been ordered by the US Appeals Court to face a shareholder lawsuit for misleading investors about its financial health and restructuring costs.
This decision follows an October 2010 lower court ruling that dismissed the lawsuit, which was led by four pension funds.
The lead plaintiffs in this class action are the New Orleans Employees Retirement System and three Ontario funds: Millwright Regional Council of Ontario Pension Trust Fund, Carpenter's Local 27 Benefit Trust Fund; and Dry Wall Acoustic Lathing and Insulation Local 675 Pension Fund.
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